Using a gate to "catch" transients is plausible, with fast enough release times, one could very well isolate just the initial attack of a signal.
But the word "catch" is tricky here, as catching for the limiter is completely different. While the gate can isolate the attack, presumably it is still keeping the transient intact.
A limiter on the hand is more akin to "eating" the transient; thwacking it down; impeding it, etc.