Yes, it’s as feasible – but you’re not using a pressure program. It’s done just like the stove-top method of filling a pan with oil and popcorn but much more difficult in an electric pressure cooker as you have to pick up and shake it.
I’ve been making popcorn for years in the thick base of a stove top pressure cooker, babying it, shaking it, picking out burn kernels… then I spent the $20 to get a hot air popcorn popper. Changed my life – nothing to clean, and my son has taken over the machine so I never have to make popcorn again!!