Win95 worked fine for me out of the box, as soon as I did a fresh install and didn't try to "upgrade" from Win 3.1.
It ran the DOS games I wanted to run (at the time it was probably Doom 2, Heretic, XCom), and the Windows programs I used (Quicken, Ami Pro), although for the simple letters I was writing at the time I decided that Wordpad was fine.
Now, the 4 or so years between 3.1 and the actual release of Win95 - the features that were going to be in it (which didn't find their way into the final release), the hype, the press frenzy - I'm sure that's very reminiscent of the typical IBM monopolistic practises - sure, that was bad. But it *did* work.