I'd agree with "badfilemagic" here. I've hired people with CISSP and without. I can't see why the same wouldn't apply to Associates.
For some positions it might be completely acceptable - if the underlying qualification was indicative for the role but no qualification is going to replace skills and experience. And "experience acceptable for full rather than associate membership" isn't necessarily the same as "experience relevant to the role".
If you are asking would I hold it against them that they are not a full fledged CISSP? Probably not, if they showed the desire to learn.
When looking to hire people I look for passion and desire. If I had 2 candidates, one fresh out of college with a B.S. degree in cybersecurity, and no certs versus another person in the workforce with an Associate of CISSP, and the one in the workforce had more passion about their craft then I would hire them over the degreed student.
I look for people who are interested in the field, not just doing enough to get by.
It depends. For a senior position, probably not. I want talented people on my team, but I also want experience. For a junior position, absolutely. I hire more on talent, culture fit, and passion, but degrees and certifications count, too.
--- You only say it's impossible because nobody's done it and lived.