new update is insane. should I delete the app?

Pretty much everyone did...

Will I lose my history and have to set everything up again? 

Agree, no point to delete the app. But for example what I'm missing in the new layout (website version) is displaying the goal (distance in my case) and its progress directly at the home page. There is no way to add it now and you need to go to the side menu to check it. Not user friendly at all. Plus, I still don't get why for years Garmin was not able to add goal tracking to their (mobile) app. 

I did! I told them all the reasons why I hated the new version when I participated in the beta program and then turned it off. I hate this new version, it's clunky it's harder to find stuff and it's definitely not streamlined like the old version was. 

You're not alone I hate the new one, I tried it as part of the beta program and gave then feedback then that it was terrible. 

Go ahead and delete the app but keep the watch. Let us know how that works out for you.

You can uninstall 5.0 and install 4.77 again - how i did now. Don't forget to disable auto update for the app.

the really crazy, lazy thing is: they could have made "at a glance" horizontal tiles that look almost exactly like the old connect app 

and then given the users an option to use the mimic of the old app until they decide to fiddle with some options

We're living in times when it's hard to get a small phone.
Those phones are HUGE...so why would you redesign your app to this clunky monster where you get huge bricks and less information?

It's horrible...please Garmin, roll that back...