The pulpit acts as the anchor for the lifelines... do you intend to do away with those as well? Sailing a boat without lifelines can be more comfortable, and in some cases the low-level "lifelines" can be more like trip lines.
However with youngsters or beginners the lifelines can represent safety and a deterrant to slipping over the side.
Simply attaching the lifelines to the deck forward from the forwardmost stanchion would not be strong enough to actually catch and stop a person falling into them.
Aesthetically, a boat may look a bit strange with no bow pulpit but still with a stern rail....
You will be able to seal your leaks in the deck more easily, but there's more involved than just the pulpit!