I've had the M50w for 5 years now and in the last 5 years, I've tested numerous soundbars. Not a single one (in my experience) has beaten the M50w in sound quality alone, yet.
Functionality and ease of use is a different story though.

There are a lot of things you need to go research bro, you have a lot of things mistaken.

Of course, you need a simple DAC of some sort to get a digital signal from your TV to the M50w. Dolby and DTS are codecs, not "sound quality". You need a pre/pro or a decoder of some sort to decode those codecs, get transferred to a DAC and then to the M50w.
By right, a TV with audio out should usually have a built-in DAC. Any Dolby or DTS content will just be dumb-ed down to PCM 2.0 when connected to the speaker out. But not all TVs does this, so do check.

Like I said, sound quality alone, the M50w will walk all over the CT380. But functionality wise, that's a different story. I mean, are you going to get off your couch to change the volume everytime from the M50w's volume puck?

If you're adamant about using the M50w for the TV, check if your TV has proper audio out at least. Then hope your TV does decode DTS content (believe or not, until today there are still many that doesn't) and downmix it to PCM 2.0.