Big Picture
Without numbers I can't guess at what you mean by "massive", so I guess the simple answer is "yes it can". I wouldn't worry about reads and writes keeping up with view generation - your definition of "massive" would have to be really, well, massive. At that point you'd scale horizontally or vertically, which CouchDB is very good at. Plus, hopefully massive load means massive amounts of money for you, so hardware should be much less of a problem.
Less Big Picture
Also, writes don't block reads in CouchDB. And if you don't want the view to update when you read from it (ie., if there have been updates to documents in the view since you last read from it), then specify stale=ok
as a query option. If you have a more specific example of what you're worried about, then we could probably try to tailor a more specific answer for you.
A Totally Different Picture
Lastly, take a look at http://books.couchdb.org/relax/reference/high-performance for a more detailed discussion on benchmarking from CouchDB's developers.
Cheers.