That's like saying instead of riding in a car, you are going to get a wheelbarrow and be pulled by an even bigger car. It's absurd to say that is a replacement.
Not quite. It's like instead of buying a car, you buy wheels and a frame and do a car mechanic training. With a bit of effort and skill, you'll end up with a car, but it won't look like a factory-produced car.
There is no universe where what you described ends up being similar to an integrated product with a dedicated ASIC. What you are saying is a stab in the dark that isn't backed up by real results.