Sort of. You could probably get enough out of it for lights and maybe an appliance, but eventually if you’re using a lot you’ll hit a power consumption ceiling where the water pressure even with the valve wide open is insufficient to turn the generator. In case you don’t know, as demand increases the windings of a generator (any generator) get harder to turn.

You could cheat a little and have the water turn a big heavy flywheel that in turn turns the generator, it would be slow to start up but more resilient to demand spikes once it’s up to speed.

There’s also the noise any of it would make turning and vibrating but that can be future you’s problem too.