I think so.
I've used PowerShell to learn about Automation, SMO, WMI and object-oriented programming for starters. Also, I've automated compliance reporting and ID administration tasks with it.
On one occasion, I was troubleshooting a connectivity issue involving an app that used C#.
I was able to read the C# code and troubleshoot the issue because PowerShell's syntax is very similar to C#.
If I've piqued your interest, come to my session at SQL Saturday #49 in Orlando on October 16, 2010.