Can one restore a Time Machine backup to a new computer?
Yes that is exactly one of the reasons it's great to have a Time Machine backup.

With the new Mac, if you want to restore the data from the Time Machine backup, ensure it is connected to the new Mac. Then power on the new Mac and follow the setup instructions.

When you get to the question asking if you want to migrate data you would choose the option to do so from a Time Machine backup.

Choose the Time Machine drive (shows up as a green icon) and then click next.
Choose what data you want to restore and then click next again.

For clarification and further information have a look at, Move your content to a new Mac and How to transfer backups from Time Machine to a new Mac.