Yeah, it's definitely possible. https://github.com/altreact/archbk shows how you might do this end to end on an older machine and this thread https://archlinuxarm.org/forum/viewtopic.php?f=65&t=17308 shows some progress in that direction on this particular device.
The real question is if you have enough patience to power through making it work.
No need to reinvent the wheel: https://docs.chrultrabook.com/docs/installing/installing-lin...
Been running Debian on an hp Chromebook for 2y now.