That would limit the maximum achievable playback dynamic range to 65dB or about 11 bits.
One can digitally attenuate a 24 bit recording in software player by for example 9 bits = 54 dB to get only 11 bits = 66dB of resolution up to 20 bit = 120dB DAC resolution.
Then one can set DAC volume control to 0dB and use a preamp or headamp to amplify to get the desired full volume.
Then one can play original 24bit recording at 0dB in a software player, attenuated by preamp or headamp to the same listening level like in the 1st case.
Do you expect the same sound quality?
In the 1st case
only few upper bits of original audio content are amplified. So the amplified content is restricted in resolution - it comes from few bits only.
In the 2nd case
you are attenuating sound information coming from much more digital bits. Attenuation "compresses" information from those much more bits into lower listening level, but the information is retained. Therefore I expect better audibility of low level sounds and details in the 2nd case.
So the difference is what is the content of those 65 dB of maximum achievable playback dynamic range. From how many original digital bits is that content created. Therefore I stand behind my opinion that the sound quality is not the same in these 2 cases.
BTW, In such a cases, comparing by listening is much faster way to make things clear than to write a forum post.