Yes yes yes!
Simple Example: Buttons
You use buttons all the time in your designs, so it makes sense to make a symbol out of it so you can update it in one central place and have those changes be reflected in the 50+ places you use buttons.
Let’s also pretend that you have two different button shapes: Square and Rounded, but they both have the same background color: blue.
Without using styles (like a layer style for their “blue” color), if you decide to update the color of these buttons to red, you’ll have to change the background color on those two symbols separately.
If the backgrounds in those two symbols referenced the Button Background layer style (the blue color, remember?), then all you have to do is update the blue color on your stylesheet to be red!
Because your symbols are constructed using text styles and layer styles, you can now centrally update things like color from one place, and have changes cascade to every usage of that (layer style) color throughout your document.
Hope that makes sense!