It's got the torque you need, but I'd be worried about the 1/4" square driver. I've used this 1/2" one for the last few years with no issues in terms of power, but the sockets I use frequently get stuck on the driver head from the heat generated from driving all the lags, especially when you introduce playa dust. Not a huge issue, just need to let everything cool down before removing it.

Side note: I use 1/2"x24" lags for my monkey huts, with ~9" sticking out of the playa to put the PVC over. I worried that 3/8" would get bent if the wind picks up, so I save those for bolting down tents (where the lags go all the way into the ground). But I tend to over-engineer things out there, as a preventative measure to avoid failures, so take with a grain of salt.