“A better option is to just write one version of Windows 95 setup and use it for all three starting points.”
Windows 95 had to install from MS-DOS, Windows 3.1 or an existing Windows 95. Microsoft wrote one setup and chained it: a DOS stub installs a minimal Windows 3.1, a 16-bit GUI does the work, a 32-bit program finishes inside Windows 95. The hardware detection got written once. Booting three operating systems sounds absurd until you count the code nobody had to write three times.