Short answer: absolutely.
Longer answer: Jackie and Hyde are far more than the stereotypical spoiled, rich princess and rebel bad boy. Their characters have many layers—despite that the writers forgot about them toward the end of the show—and because of their particular layers, Jackie and Hyde influence and challenge each other to grow and change. That’s the stuff great relationships are made from
Hyde’s core consists of deep compassion, and he has a self-sacrificing nature. This makes him vulnerable, so he’s developed quite a few self-protection mechanisms, including lying about his true motives for helping others, separating himself from emotion and/or masking his emotions (i.e. what he calls Zen), and—his least appealing quality—passive-aggressiveness.
Jackie’s core consists of compassion and insightfulness. She’s raised, however, by emotionally- and physically-absent parents, who show their love through what they buy her. Jackie continues this pattern with Kelso, buying him thousands of dollars worth of miscellaneous presents and hoping he’ll someday reciprocate in kind. Her self-protection mechanisms include egocentrism, vanity, occasional unfettered hostility, passive-aggressiveness, and—perhaps the most dangerous to her—a fantasy world that mixes with reality.
Whenever she and Hyde interact, however, their self-protection mechanisms tend to fall away, whether immediately or eventually. Hyde repeatedly puts himself in uncomfortable or even hazardous situations to protect Jackie (.e.g., taking her to junior prom, vetting her date Chip during “Jackie Bags Hyde,.” getting arrested for her, etc.) and without a pretense that he’s benefiting from it.
In the episode “Prom Night,” Jackie teaches Hyde that being a condescending snob is only part of her personality. She offers to go inside Hyde’s rundown house to meet his mother, whom she knows is “Gross Edna,” the school’s alcoholic lunch lady. This offer isn’t given in disgust but as an act of respect.
During their first date (“Jackie Bags Hyde”), Jackie shows Hyde she doesn’t have to be a vain chatter box and is quiet for a half-hour. When she does speak, she demonstrates both insight and compassion:
"You’re wondering, ‘How can I open up to her [Jackie], when everyone I have ever loved have [sic] abandoned me. Am I even worthy of love?’ Well, you are, Steven. You are."
Hyde doesn’t seem to take in her words, but they’ve clearly affected him deeply by the end of their date, as has the rest of what Jackie’s shown herself to be to him.
Jackie often imagines herself married to a rich business man like her father, and she pushes both Kelso and Hyde in this direction. Her love for Kelso never inspires her to let go of this dream, but her love for Hyde—and Hyde himself—does so again and again.
In “The Crunge,” Jackie wants Hyde to go to college. She says:
"Steven has my heart. Which is why I want him to be rich. I mean, think about all the stuff you could buy for me.
Her pattern of needing to be loved through getting presents—because that’s what she recognizes as love thanks to her parents—kicks in again, but Hyde empowers her, saying, “Jackie, why don’t you earn your own money and buy those things yourself?” It’s an idea she’d never thought of before, but she nods, considering it.
We see how much Jackie’s grown, inspired by her relationship with Hyde, in a scene from “Beast of Burden” (704). Hyde decides to become a mechanic in Red’s muffler shop, and Jackie doesn’t try to stop him. She says, “Fine. If it makes you happy, then I’m happy.” She says this genuinely, and right afterward she also expresses confusion at her own growth:
"Steven, why is it everything I love about you also grosses me out? … You’re so complicated."
What’s complicated, though, is that her love for Hyde challenges who she’s grown up believing she is. Her values have evolved past those of her parents. She experiences unconditional love from Hyde, protectiveness without a price tag (e.g., when Hyde gives her a safe place to sleep without sex being involved), and she returns both in kind.
The majority of season five and some significant episodes/scenes in seasons six and seven continue to illustrate the positive affect Jackie and Hyde have on each other. In healthy relationships, misunderstandings and hurts often transform into growing and strengthening experiences. When written with their long-established characterizations intact, Jackie and Hyde are perfect for each other.
If you’d like to read more of my thoughts and analysis on Jackie and Hyde’s relationship, you can find several essays I wrote about them here.