Not so much, assuming a straight-line skid (as opposed to a hockey stop) and pavement that is not continuous potholes. You blow out your tire mid-skid, the tube deflates immediately, and when the tire flattens out due to lack of pressure, the portion between the rim and the road is going to be the parts on either side of the center tread, where you've still got some rubber left, so it's not like you skid through to the tube and you're instantly grinding your rim against the ground. Rideable? Not really, but then not any less so than any totally flat tire.

I've done it several times now. Whenever my rear tire is about to be replaced, I go around the block skidding like an idiot until I blow it out. Lots of fun, actually.