Yes. The core of Atmos is just Dolby TrueHD (in an ideal case, it can be a core of Dolby Digital too), and then it carries "metadata" as well giving the sound 3D spatial locations (not "channels") to reproduce the sound at a specific point in the room, or as best as the system can render it with the speakers and their locations that are installed. So a regular blu-ray player will work. There are some really old players that people say don't work, but I heard that those were like generation 1 blu-ray players.
You will find that you will just default everything to DSU (Dolby Surround Upmixer). It will still do native Atmos for discs/files encoded that way, and upmix everything else and you will love it.
Don't expect the overheads to be active all of the time. I think that it is something like 5% of a native Atmos movie will include them. Concerts use them more throughout, but for ambiance more than anything.
For a while, people were really loving the DTS Neural X upmixer, but now people are saying that while it is more aggressive, it isn't as accurate as the Dolby Surround Upmixer.
