It may be possible. It depends entirely on the type of tank you're aiming for. But a large fish load in a tank packed with SPS & LPS coral could be quite a challenge and things could easily go wrong. You might also need to be quite tolerant of micro algae growth.
Just curious. Why do you want to go this way?
i think you should try it out. i don't see why it wouldn't work.Why not? It seems logical to filter this way, if there is more biological activity more water exchange is needed and can be adjusted. All electrolytes will naturally be in balance. Why micro algae growth? Excess nutrients will be carried away, I wonder why this isn't more mainstream?