I've done it before. I think it depends on what type of distance you're doing and how long you'll be on the bike. When I first started riding, I bought mens shorts not knowing the difference. I also bought Performance shorts because I couldn't afford better. I did centuries and distance on both. While I could ride on either now, it is MUCH better with good womens specific shorts

What you could do is get less expensive shorts to use on short ride days then get better ones on longer days?

As someone who has always adapted to what I had, I noticed a HUGE difference when I got decent womens shorts. No contest.