Is this going to matter much for those that use TV speakers or a low end soundbar?
No. And it won't really matter to people with high-end setups either. Hardware accellerated sound isn't something new. Xbox One and PS4 already do it. Pretty sure their predecessors did too. While it WOULD matter if they did not support it (neccessitating cutbacks in either sound or graphical quality) this is essentially them saying "yes, we still got it".
Hardware accellerated sound does not in itself mean "higher sound quality". It just means it will take less ressources from the CPU to do the sound parts of the game thus freeing up resources for other stuf. Same concept as the capture chip in the PS4. Due to having that, the PS4 is constantly recording your last hour of gameplay without it impacting performance in the games. Not having the capture chip is the reason the Xbox only captures the last 5 minutes of gameplay. It could do 1 hour but it would take up resources it does not have to spare.
Conversely, if PS5 and Series X had the same CPU/GPU but only one of them had hardware accellerated sound, then the one without would either have to cut back on the bitrate of the sound or graphical fidelity in order to match the other's performance.
So this story is actually not that interesting. It was a given that both consoles would have this. Now a real newsstory would be if the Series X has a capture chip. It's very likely as the absence was why they lost the streaming market to Sony in the current gen but a confirmation would be nice.
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