From the information you've provided so far, I'd say yes. However, you check to see if your tv has an optical output and pass DD5.1. Otherwise, you may be limited to stereo sound, or have to do a different work around. Also, are you thinking of still using some or all of your speakers? Because with a sonos surround system you wouldn't be able to (except for the connect, which is just adding to your current system).
For a home theatre setup, Sonos PLAYBAR or PLAYBASE would be replacing your receiver and front speakers. You would then add sonos sub and rear speakers as you desire. The only wiring is power to the speakers, and optical input from the tv. So it absolutely simplifies the wiring.
Personally, I think sonos is good almost every where, but it loses appeal in a dedicated home theatre room (no need for music or multiroom audio really) where speaker wiring isn't a concern.
Danny