I suppose the OP question is a lot like "Can I turn up for an Inspiration course without a unit?" and I guess the answer is yes. Most of the drills won't work, but you sure will learn a lot from watching other people doing them, and how the thing works. Ultimately you won't get nearly as much out of it as if you'd got a unit to use so that you could join in, and it would be unreasonable to ask an instructor to change all the drills for you to be able to do them without the equipment you need for the course.
The reality is the gear is a small part of it, but without that starting point there isn't a massive amount I can see you coming away with.
And there isn't anything a GUE diver has ever taught me that I hadn't read or learned from courses or from just going diving. The reality is that many people who do fundies didn't get the same quality of training I and obviously Mark has had over the years, and as a result the Fundies course has a place.
Bearing in mind I've never done the course, I guess my opinion's probably worth what you paid for it, but this seems to be the consensus every time I try and sign up and dive the Inspo for 4 days
Digs.