No, it hasn’t- the Olympics have never been a substitute for war. They have however been a great way for peaceful nations to promote themselves economically for tourism during and after the event- although not for a while with the IOCC and Olympic hosting becoming a massive opportunity for corrupt boondoggles. Even so, host country aside, the international event has created the opportunity to raise awareness and create good will towards nations that otherwise wouldn’t have any similar opportunity- the Jamaican bobsled team comes to mind.