Yes,
something like that will work since it has the "creative" settings on the camera. You will be somewhat limited as far as macro and editing goes, but you could still get good images.
DSLR's have a lot more capabilities with different lens options and the ability to shoot in RAW for when it comes time to edit the photo. I have always said.. it isn't the camera that takes a good photograph, it is the person behind it. But with a better tool, more capabilities open up.