no, they don't work like that. you only have sidecut on one side of the ski when they're in ski mode, the heels don't lock down to the board in ski mode, and the pin system that the binding hinges on in ski mode isn't designed for telemark skiing - your toes would smash into the board and eventually the pins would break.
we use climbing skins on them when they're skis to get grip to go uphill and on the flat and downhill you do get some glide even with the skins on - even on short 30ft sections of downhill its really hard to have a lot of control in snowboard boots and bindings even with skins on to slow you down.... without skins on would be sketchy as fuck for me at least.
splitboards are awesome tools tho and work great at what they're designed for: skis on the up, board on the down.
get the hell off my lawn.