It could work well. Yet, in practice, 90% of people would end up hungry when eating shit food on caloric deficit. Do yiu feel satisfied after 500kcal of clean food? Somewhat yeah. Do you feel satisfied after 500kcal of cheeseburger? Not at all, honestly.
You will end up being hungry as hell and eventually cheat and eat too much calories.
Then there are some who can manage, mostly because their hunger is low or their metabolism is so fast that they have to eat a lot of food, so regardless of what they eat they will feel satisfied.