yes of course, but it doesn't have a built-in screensaver program, like OS X does. you'll need a whole software bundle to run one-- darkside and afterdark were popular pre-x choices. you cannot use OS X screensavers with OS 9.
also try versiontracker.com, search for 'screensaver' in Mac, there are probably a ton of freeware and shareware screensaver programs...
fyi, unless you leave your screen on, undisturbed, for years at a time, you don't *need* a screensaver. beyond that, it's just fun to have. so i wouldn't freak out if i were you...
pnw