Yes, you can but you have to do more steps. You need to use the degreaser, use water remove the degreaser, then use something to remove the water to reduce rust formation, and the let the chain dry to remove the water chaser. Mineral spirits gets ride of all the middle steps and jumps to just letting the chain dry.

On the environmental front, mineral spirits requires less material so there is less waste. Technically, the degreaser, water, and the water chaser are hazardous waste and really should be treated as such.

Also, it appears that No Nonsense is a UK product. If you are in the UK, “mineral spirits” is known as white spirits