Disclaimer: Not talking about Ctrl + Scroll.
I tried the Mouse Pinch-To-Zoom extension, which is buggy on some sites. And I even bought a physical touchpad for pinch zoom. Today I just leaned that it’s natively supported as an experiment feature by FireFox
There are specific actions defined to set what happens if you rotate the mouse wheel and hold down modifier keys like Alt or Ctrl or Shift. You can disable this action by setting the related mousewheel pref to 0 (zero) on the about:config page.
mousewheel.with_alt.action = 0
0: Nothing happens
1: Scrolling contents
2: Go back or go forward, in your history
3: Zoom in or out (reflowing zoom)
4: Treat vertical wheel as horizontal scroll
5: Zoom in or out (pinch zoom)
I changed the value to 5, and it works perfectly.
Then you us kb to page up/down, and continue with mouse to click a link?
Well unless you have other mouse buttons, this setting make no sense to most of us.
The answer to the question is no. In my settings, zoom only works while holding down the Alt key. So it is okay.