Short answer - No.
But it very much depends on what you're doing with it. For basic websurfing you could get by if you max out the RAM and install OSX 10.3.9.
However, to get more useable performance you're going to need to get OS X 10.4, an aftermarket CPU faster than 1GHz, and replace the original HDD with a new (faster + quieter) modern drive (a SATA card would also be required for a SATA drive). You don't get USB 2.0 without an expansion card either.
The stock GPU is probably sufficient for the basics but not good enough for Core Image in 10.4. And the machine, no matter how heavily upgraded, will never be able to play HD movie content and will still struggle with some content-heavy websites.
I had a dual 533MHz machine upgraded as described in my sig below (acually it has twin 1TB drives now), and it still struggles with some websites.
Long story short, the G4 is just about at the end of its tether for day-to-day use. I would not invest in a G4, because your $90 purchase would only be the beginning of a slew of upgrades. You'd be better off looking for a used Mac Mini - Intel Mac Minis can be had cheap these days, and even the later G4 models are usually a much better deal than even the best Power Mac G4s.