Yes.

I have a Tacx Fortius trainer that has a motor/generator that either produces resistance or makes the wheel spin, depending on simulated environment.

This is a more recent model:
http://www.tacxvr.com/en/products/fortius

It is possible to create programs based on a virtual geography, with uphills/downhills/flats. I can also program the load in Watt or do interval training based on heart rate zones.

There is a virtual game world with a number of roads available, together with a steering sensor, allowing a cyclist to look at a 3D view on the monitor, and chose to turn or continue ahead in road crossings.

It is also possible to buy videos from famous bike routes, in which case the system adapts the load based on where you are in the video. One strange thing is that the car or MC with the camera filming the routes seems to have been driving quite fast. So when biking slowly in the simulator, you will still manage to overtake a lot of real bikers fighting up Alpe d'Huez.

Some trainers are enough well-calibrated that there exists virtual bike races every week end for people who are bored with the darknes and snow during the winter.