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Non-Deterministic Wallets

Is it possible in Monero to have non-deterministic wallets (setting aside ergonomic issues such as ease of setting up the wallet)? I.e., if I use two random numbers as private spend and view keys, will they constitute a useable but different wallet than the same private spend key paired with its derived private view key?

If the answer to the above is positive, does one lose any functionality by using such a wallet?