That seems very good value for money! I have not used one of them but assuming it is a DC output (I could not see it), IT should be fine. I have a Parweld 180P inverter, which has a few more bells and whistles than the Lidl one and a little more power and I love it!
A 2.5 electrode might be difficult at 160 amps, it depends on the characteristics of the welder. You may struggle to get the arc started without scratch dragging it. Also it would probably be critical on arc length. A steep learning curve but attainable.
Do not forget you will have to buy a suitable torch, electrodes, gas lenses and gas cups for WIG (TIG in the UK). Not to mention the argon gas cylinder and regulator. There is no need for really high amps for small TIG work, technique and perseverance is more important.
Sorry if that puts you off, it is still a bargain!
IanR