Sure, most recent AVRs can decode the bitstream, but if you want to play a secondary audio track (ie. director/actor commentary) then decoding has to be done in the player. In this instance, that means multi-channel audio is no longer an option, no matter how recent your AVR is. That's why I think the removal of this feature is a big step backwards.
My PS3 does almost everything, but it can't output Dolby TrueHD and 3D video simultaneously. My 6200 can do that, but the decoding limitation means that I still need the PS3 if I want to hear a commentary track with a TrueHD blu-ray. Sad that Sony doesn't have a blu-ray player in the current line-up that does it all.