Not entirely all traditions, no. We accept as valid only monotheism. Historically, that means Jews have mostly excluded from validity anything besides Judaism, Islam, and (mostly) Christianity. Today, though, as interfaith dialogue becomes more frequent and more coherent, many Jews have expanded their notions of validity to include Vaishnavic Hinduism (which essentially teaches that all "gods" are merely manifestations of the One), and Sikhism, and even certain indigenous faiths that, like the Vaishnavic Hindus, teach that their spirits or gods are all really manifestations of the One God.
However, we separate out amongst polytheists those whom we believe know that there is only one God, but choose to worship other things as a demonstration of rebellion, versus those whom we believe worship many gods because they have simply misunderstood, or have not been able to understand the nature of God as One. The former category (which is more or less nonexistent), we are prohibited from interacting with. But the latter category, while we still hold they are in error, we interact with them in business and as friends. Also, we differentiate polytheists, who may believe in more than one god, but deem those gods entities of spirit, perhaps to be symbolically represented using idols, but consider the idols only vessels that may temporarily pipe through some of the spiritual energy of the god; and idolaters, who worship the idols themselves, and believe that they can create something that literally becomes a piece of the god. The former, we hold are in error, but it is a less grave error; the latter, we hold are in deeply egregious error, which is (in theory) not to be countenanced.
And in any case, no matter the belief, we have always held that while other religions may be entirely valid and appropriate for non-Jews to practice, Jews are prohibited from practicing anything but Judaism. This is not a judgment about whether a practitioner of another religion can successfully interact with God using their faith tradition, but a statement of limitation upon ourselves, because of the nature of our covenant with God.