No, Windows 95 had memory protection for 32-bit apps. Usually when a 32-bit app crashed, the rest of the OS worked fine.
One big problem is that Amiga "multi-tasking" while not co-operative like Mac or Win 3.x, can be switched off as a convenience for programmers. So all that needs to go wrong is a program switches off multi-tasking to do something and then gets stuck before restoring it. The program which crashed is dead but you can't fix that because it turn off multi-tasking.