Yes… but.
I suggest taking a look at a story engine like
Ink (it's free:
https://assetstore.unity.com/packages/tools/integration/ink-unity-integration-60055)
Ink has Playmaker actions on github.
While Playmaker can 'do anything' (as long as it can happen with a runtime state machine) Ink is specialized for handling story flow, character dialog, variable conditionals, and choice menus. There's also a stand-alone writing tool (Inky) that can export an interactive html page for play-testing without Unity.
Integrating Ink with Unity/Playmaker, is delegating the story flow to Ink while Playmaker handles your media files and everything that happens within the scene (play animations and audio, load scenery, walk around the environment, etc)
Ink has writing advantages over other story engine tools (Twine, Fungus, et al) in that it's lightweight and can run outside Unity (allowing other non-Unity people to help with the development). There's a small learning curve for the scripting syntax – it can create complete text adventures on its own, and can talk to Unity via 'stage cues' like a script.
You can do it
all with Playmaker, and you can do a lot with a Dialog System –– there is even an integration of Dialog System for Ink –– but if your main focus is on story, I can't recommend Ink enough.