No, not even close. If you're talking about getting rid of the Yamaha receiver and getting a single MA DAC, then they are definitely not equal. The MA DAC wouldn't have an amp section, it wouldn't be able to deliver sound to all 5 speakers and the sub, it has no HDMI or video processing, and it has no bass management among other things.
If you're talking about adding it to the receiver, then I think it would be a waste of money since the DAC's in receivers are perfectly competent.