This is an elaboration on Eelvex's answer.
The crux of the issue is that $\sin x$ (as defined by the power series above) is the unique solution of $y'' = -y$ satisfying $y(0) = 0, y'(0) = 1$. Similarly, $\cos x$ (as defined by the derivative of the power series of $\sin x$) is the unique solution of $y'' = -y$ satisfying $y(0) = 1, y'(0) = 0$. Moreover, as Eelvex hints at, for any $c$ the function $\sin (x + c)$ is also a solution to $y'' = -y$, and its initial conditions are $y(0) = \sin c, y'(0) = \cos c$, hence
$$\sin (x + c) = \sin c \cos x + \cos c \sin x.$$
Furthermore, we compute that the derivative of $\cos^2 x + \sin^2 x$ is identically zero, and it is equal to $1$ at $x = 0$, hence is identically equal to $1$ everywhere. It follows that $\sin x$ is bounded. Since $\cos x$ is positive for sufficiently small $x$ by inspection, we have that $\sin x$ is at least initially increasing, and by boundedness it attains a local maximum at some positive real $c_0$. This gives $\cos c_0 = 0$, hence $\sin c_0 = 1$ and
$$\sin (x + c_0) = \cos x.$$
The same argument applies to $\cos x$, giving $\cos (x + c_0) = \sin (x + 2c_0) = - \sin x$, hence $\sin (x + 4c_0) = \sin x$, hence $\sin x$ is a periodic function with period $4c_0$.
The remaining mystery is why $4c_0$ is equal to the circumference of the unit circle. Recall that for a parameterized curve $(x(t), y(t))$ with $0 \le t \le t_0$, the arc-length is
$$\int_0^{t_0} \sqrt{x'(t)^2 + y'(t)^2} \, dt.$$
Letting $x(t) = \cos t, y(t) = \sin t$ we have $x'(t)^2 + y'(t)^2 = 1$. Moreover $(x(t), y(t))$ parameterizes the unit circle, and by looking at what quadrant $(\cos t, \sin t)$ is in for $t$ slightly larger than $0, c_0, 2c_0, 3c_0, 4c_0$ we can conclude that it parameterizes the unit circle exactly once precisely when $t_0 = 4c_0$, from which the identity $4c_0 = 2 \pi$ follows.
Note that direct manipulation of the series was not really used here, although the fact that the series solves $y'' = -y$ was used extensively. This is really the crucial property of the series, so it's a more useful thing to work from anyway. The problem with directly manipulating the series is that at some point you have to get rid of the $\pi$. Doing this using geometry is much easier than using series manipulation (which seems unnecessarily hard to me; it's not even clear to me what definition of $\pi$ you could use in this situation that wouldn't be circular), and is more revealing anyway.