Yup, often cited as the most consequential naval battle in history.
No, don't go there.
In no particular order: Trafalgar, The Spanish Armada, the Korean Turtle ships, the Battle of Salamis, Taranto, the long running Battle of the North Atlantic, Actium, Port Arthur/The Tsushima Strait, the Battle of Manila Bay, The Battle of the Philippine Sea (The Great Marianas Turkey Shoot) and many more. Then you have the inconsequential stand off between the Monitor and the Merrimac which became one of the most consequential naval battles in history, as it was a first for iron ships. One could also say the naval Battle of Yorktown was quite important, small as it was, as it gave us victory in our War for Independence by isolating and penning in Cornwallis' army on the Yorktown peninsula. And I'll add Jutland to the list. A nothing battle which ended any German Imperial Navy attempts to get into World War I, it ensured the British blockade would work, and it did; Germany was exhausted and starving by the end of the war, but not psychologically beaten.
There are many consequential naval battles, maybe inconsequential now but important in their time. Midway was important, no doubt about that, a turning point for the war in the Pacific, just as Stalingrad was a turning point for the war in Europe. But Midway was not a coup de grace, rather a battle which evened the odds. There were the naval battles of Savo Island, the Coral Sea, Philippine Sea, Okinawa (the kamikazes), and other engagements to come which put the final nails in the coffin of the Japanese Imperial Navy, all thanks to Midway and the four Japanese carriers sunk, along with planes and pilots.