The most active threads on this site are word games, and you are apologizing for a router question?? I'm happy to see an actual woodworking question. It might be possible to do what you're talking about if the bit diameter is the same as the bushing diameter. But then, you'd have to be sure the guide bushing was perfectly centered with respect to the collet. I think you'd be better served with a straight bit that has a bearing on the shank.
“We should be careful to get out of an experience only the wisdom that is in it and stop there lest we be like the cat that sits down on a hot stove lid. She will never sit down on a hot stove lid again and that is well but also she will never sit down on a cold one anymore.” - Mark Twain