I say keep them seperate. A HDMI video card and a HDMI soundcard. I don't like the idea of video running through my audio receiver. Yeah, it may be a cheap way of switching between HDMI sources, but as we all know, you get what you pay for.
More and more displays will come out with a plethora of HDMI inputs. I think three inputs is the key number.
Vizio P65-C1 (2016)
JBL Studio Series (Front, Center, Right), JBL 250W Sub, Kenwood Rears, Onkyo Atmos Upfiring
LG UP970 UHD Player
Nvidia Shield TV