Sure you can bake the soil. But, you will have to dry it longer than 5 min.
I Microwave my soil from 3-5 min. Depending how much soil I nuke.
I think it's more effective than baking . Because, when you bake you need to make sure the soil reaches the temp you selected.
Microwaving, penetrates deep into the soil.
Causing the water molecules to boil.