IMO, the only difference between "smoked corned beef" and pastrami is the steaming step at the end for pastrami. (And maybe the spice rub to start.) Based on my experience, without the steaming the "smoked corned beef" will be tough and a bit too internally salty or seasoned, if you use a commercial corned beef.
Of course, it all depends on how and for how long you smoke the corned beef. Since I've always been aiming for pastrami I only smoke it (225 degrees) until IT of around 165. Then (same or next day) steam it to 200 - 210 and serve hot, or refrigerate, slice thin, and serve cold on sandwiches.
If you continued the smoke on corned beef, say, until IT of 200 - 205 like brisket, I don't know what you'd end up with flavor or texture wise, but for myself, I'm not tempted to try it. If you do, please report back. Good luck!