Because the aircraft thrust is provided through the jet engines, and not the wheels, it absolutely will take-off. The engines thrust is independent of the wheels. The engines will still work the same way, and will produce the same thrust. The thrust force of the engines still pushes on the surrounding air and the airframe just as it would if there were no conveyor. The wheels really have nothing to do with the speed or thrust of the aircraft on takeoff, they just provide a means to reduce the friction between the aircraft and the earth. See my picture below:

This is a (very) simple free body diagram showing all the forces present on an aircraft as it rolls down the runway. All the forces acting during cruise flight (thrust, drag, lift, and weight) are all present, along with the friction caused by the contact between the wheels and the ground, and any friction in the individual components of the landing gear. The only thing that would be affected if a conveyor was used, would be the friction force due to the contact between components in the landing gear, which would really not affect the overall speed of the aircraft. All the other forces would still be present and would still lead to flight, as long as the thrust and lift were sufficient to overcome the drag (and friction) and weight.
It's similar to saying if there was a 200 mph wind blowing straight down the runway and the aircraft was not moving (relative to the ground), would the aircraft take off? Even if the wheels weren't spinning? What if the aircraft was on a conveyor with a 200 mph headwind? You can see that the wheel speed is independent of the airspeed.