AFAIK this is not secure. The SSH protocol doesn’t require the server to know the client’s public key for the connection to succeed. Instead, the client actively sends its public key to the server while authenticating, and the server just decides whether to allow a connection or not. OpenSSH will typically match the client’s key against a fixed list of keys, but nothing stops a rogue server from allowing connections from any client key. In fact, OpenSSH itself can be configured to do this using AuthorizedKeysCommand.