In theory yes it is but if it is intended that the drone be a few tens of feet from the subject then in practise even if the drone returns to nominally the same coordinates the error in GPS may be too great, beside the drone may drift whilst hovering, then there is wind to consider.
There have been several thread where people have complained about drones, that were close to the subject, moving off target when relying solely on GPS.
I suspect that in the absence of VPS, GPS error etc. and wind will combine to ruin the consistency of close up shots, that is if close up shots are the desired result.
Try a night flight in deep darkness without illuminating the ground beneath the drone, hover the drone at below head height and see how close to the drone you would be prepared to stand..
I wouldn't want to stand very close, whereas in daylight I have stood, in confidence, with the drone at face height and the props 12 inches from my face, windless day of course.
I do that quite frequently with a mini indoors.