Can the lift equation be used for the Ingenuity Mars Helicopter?
The formula is correct, but you're measuring the wrong area.
A is the area of the wing, i.e., rotor blade, not the area of the rotor disc.
When π(0.6 m)² is replaced with the correct value, about 0.6 m * 0.05 m, then the final number for lift drops by about 40 times, as does the upward acceleration, to a more plausible 1.4 m/s².
(This error is also committed by the first google hit I got for lift equation rotor.)
The next step to improve accuracy would be to not ignore that the root of the blade moves much more slowly than the tip, and conversely that (for Ingenuity at least) the root has greater chord and greater angle of attack.  But the math for that is much more involved.