The short answer is yes.
The high-level explanation is not too complex.
Diskless is relative.
DHCP (which most of us know and love) is an offshoot of BootP (Boot protocol). BootP takes DHCP information after startup/POST (power on self-test) and requests an operating system download from the BootP server. The operating system loads from the BootP server (‘s disk drive, virtual disk drive, solid state memory, etc.) and the computer runs as any other computer will. The diskless/zero PC may still require storage space, but once the OS is loaded, scripts can map network storage that, to the VM PC, behave like local storage (like a local disk drive).
The big question is whether state information is retained from one virtual session to the next. Do we want to load an identical session each time or have the capability to create persistent shortcuts?
All the pieces are available to tinker with and assemble as you need and can afford.