I suppose you could do it.
A common similar reduction is to note that you only need one operator, $g\star h = g\cdot h^{-1}$. Then you can state your axioms in terms of $e=h\star h$, $h^{-1}=e\star h$ and $gh=g\star h^{-1}$. But the axioms become quite noisy, and there are deep reasons we like to talk about associative operations.
So if you have a set $G$ with a binary operation $\star$ with the following properties:
- $G$ is not-empty
- For all $h,g\in G$, $h\star h=g\star g$. From here on, we'll write $e=h\star h$.
- $e\star(e\star h)=h$, $h\star e=h$.
- $h_1\star (h_2\star h_3)=(h_1\star (e\star h_3))\star h_2$.
Once you have such an operation, you can define d $g^{-1}=(g\star g)\star g$ and $g\cdot h=g\star h^{-1}=g\star((h\star h)\star h)$.
One tricky thing is that, without the requirement for an identity, you are going to need to assert that $G$ is non-empty.
There is a deep theoretical reason that we prefer to talk about associative operations first, however. The most fundamental associative operation is function composition. Let $X$ be a set, and let $([X\to X],\circ)$ be the set of all functions from $X$ to itself, with the operation $\circ$ being function composition. $\circ$ is an associative operation.
Turns out, if $(S,\times)$ is any set with an associative operation, then it is equivalent (isomorphic) to some sub-algebra of an $([X\to X],\circ)$ for some set $X$. (You can always use $X=S\sqcup\{I\}$, in fact.) Such "representations" of $(S,\times)$ are a deep common fact in a lot of mathematics, which is related to something called "category theory."
This also indicates why the identity is more primal than inverses.
$([X,X],\circ)$ always has an identity (though $(S,\times)$ might not). So it is easy to "add" an identity to $S$.
However, if $|X|>1$, some elements of $[X,X]$ have no inverses, and if you try to add inverses and keep the associative rule, you end up doing something way more complicated than merely "adding" elements to $S$.