Yes, steroid guys do this all the time. DHT is an anti-estrogen of sorts itself, but it is not strong enough to compare to an actual AI.
Guys often use purer DHT compounds - like Masteron and Proviron - as AI's so long as the T dose is low.
I have used both, but still needed a little AI. Couldn't replace completely.
Many people seem to be able to use them in place of one completely though, if their T dose is low enough. Then again people can use no AI either, if their dose is low enough. So who knows where the crossover point is. Everyone's different.