Yes, yes it does
The term adequate does not involve comparison to something else.
Adequate: Sufficient to satisfy a requirement or meet a need. synonym: sufficient.
380 can meet objective terminal ballistic standards derived from analysis of actual recipients of bullets.
The only trick with 380 is that you need to be more careful with bullet/load selection.
If you want to say 380 is inadequate for a duty/military pistol, I’d agree. But EDC is a completely different CONOPS.