Bulk update fields

Yes:
– go to the list of products page in admin
– click the checkbox in the header row. This will select all products
– change the bulk actions drop-down to edit and click Apply
– the bulk edit form appears

I don’t know if a category edit selects products which were not on the first page of products, you’ll have to try that.

If you have to bulk edit a page-full of products at a time, you can increase the number of products per page in screen options. There might be a limit though.