You could sit down and eat a jar of sugar if you wanted, you'd just have to be burning that many calories.
In theory, sure, we're with you. But in practice, Atkins is a diet for fat people. If you're 250 pounds and you want to get down to 230 and stay there, Atkins is your huckleberry. We all know plenty of fat people who are noticeably less fat thanks to low-carb diets, but I can't think of anybody I know who used to be fat and is now thin because of one.
If you're 250 pounds and you want to get down to 170 and stay there, it seems that "eat less and exercise" is still your best bet.
Also, Atkins is just one type of low-carb diet, and a rather strict one at that. It is because of how strict it is that people tend to fail a little ways in
Atkins is a diet for people who insist on eating the wrong foods. It attempts to minimize the harm of eating crap without actually encouraging the dieter to eat healthy stuff.