Theoretically yes, but I’m having a very hard time even finding peripherals with male lightning ports when I searched out of curiosity, and the few I saw were the same price as this adapter or cheaper. Every single peripheral I found that has a male lightning port uses it for the purpose of making it sit flush against the phone, otherwise it would have made more sense to simply buy a USB-C accessory and use a C to lightning cable. This adapter removes the streamlined nature of those peripherals.
I’m sure there’s some rare use case where this adapter makes sense, so I don’t literally mean nobody would ever need this in any circumstance, but since the need for it would be so small I think the heightened price makes sense since there would be very little demand.
One of my classes had us design our own 8 bit processor and assembly language. It was a lot of fun designing it. It was like a little puzzle to figure out how to get features into those limitations