Too bad ascendant mode only unlocks when you’re 100
I bet you would try starting in it from lvl 1 if it was possible 
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There is the ascendant altar available from the time you find it at whatever level/difficulty your character is at the time. It apparently has many of the same mechanics as ascendant mode itself. Another thing that is interesting is the affix reroll mechanic that is coming in. Would make for the ability to try to get dream items for such a run.
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Also they say the cost will never be prohibitve, but I doubt it would be cheap.
And given such challenges are usually done in a fresh state save (no blueprints, empty smugglers) it would take quite some time to finance the rerolls.
For sure just to see how far I can get ,beating it probably will be nearly impossible but I don’t know what FoA will offer as itemisation
If it’s not hard to get the Essences will be much easier to cheese some essential rolls on a key slots but we will see