Only for a perfect sine wave. Real world circuits are never that perfect. The first diode introduces non-linearities that break the calculations. You can use RMS calculations just as for voltage and current, and with power they're just as important, moreso with non-linear circuits, such as audio amplifiers. Where peak to peak power is completely useless effectively describing output power, RMS power is the real measure.
So now why are there TWO people that say there is no such thing as RMS power?