Yes, but the w98 bootdisk uses ramdisk and stupid menus which take forever to load up.
I usually make a disk in w98, then edit my own custom config.sys and autoexec.bat to include himem and cdrom and thats it, while I extract all the useful programs (fdisk, format, xcopy, etc...) onto the disk rather than rely on the slow extraction of compressed files onto the ramdisk.