Can we design a system where users gain or lose points based on their answers and depending on their responses, different follow-up questions appear? Ultimately, their total points would determine a specific outcome. Is it possible?

Yes, you can do this.
You can use either the 'Calculation point' or the 'Quiz Mode' for this, both will allow you to do this.

FormNX - A No-Code Drag-n-Drop Form Builder.