A: Yes, but it might not be any good.
In The Times, Alice Fordham assesses Penguin's wiki novel and looks at other attempts at online collaboration by writers.
Scott Pack, the former Waterstone’s executive who runs The Friday Project, an internet publishing company, now bringing out its first novel, says: “My honest feeling is that that it is very unlikely to have any value as a book. Not in a snobby way — but I think it’s unlikely that people will want to read it.”
It is hard to disagree. Even an enthusiastic Penguin editor writes: “I find I can read in about ten-minute stints, which I reckon is pretty good considering what it's like.”