Yes, aligned on one sweet-spot-centric circle is what one should do. That is obvious in 2.0, and in Mch the tools to achieve that in DSP via speaker level and distance correction delays are built into even the cheapest Mch AVRs, often via calibration with a supplied mic and calibration routine.
The sub or subs should also follow the same rule, and they do even in cheap AVRs.
Why not just use 5 or more great speakers for Mch without subs? Three reasons, mainly. One, subs can be independently positioned of the main speakers for best bass response in the room without altering imaging by the main speakers at higher frequencies.
Two, it's economics. Big speakers with good bass are disproportionately more expensive than smaller ones. I don't think you can assemble a five big, great speaker setup as inexpensively as a five great small speakers plus subs system with similar quality. My main fronts are big, but I cross them over to the sub at 60-Hz. Incidentally, use of the sub also sounds noticeably better to me than running them full range. In my next system, if ever, all my speakers will be smaller, but top quality.
Three, using a sub is a simple, easy form of biamping, offering potentially less distortion, better power handling, etc. via active xovers.