Good, except that you still have to deal with authentication, authorization, and other security aspects of a server-side component. Server-side code won't go away no matter how fat the client gets.
In this case it will just move into the database. You'll have to start writing procedures and rules in the database instead of in your web framework and only expose those instead having only trusted code interact with the DB.
This will not fool anyone. You can't fold the business logic into the database and then pretend that you've eliminated the business-logic layer on the server. It's still there. You've just driven it into hiding.