Is it possible to have a "no-op" IAM policy?

What I have in mind in something like this:

{
    "Version": "2012-10-17",
    "Statement": []
}

But the policy editor rejects it for not containing any statements. I obviously understand why AWS enforces the condition that there must be a statement, so I'm more interested in answers explaining if/how to achieve a no-op statement than in answers explaining AWS's rationale here or asking why I want to do this.

I was able to create the following, I use in Terraform as a dummy policy when none is needed. Seems to work as long as AWS doesn't create an action of none:null

{
    "Version": "2012-10-17",
    "Statement": [
        {
            "Sid": "VisualEditor0",
            "Effect": "Allow",
            "Action": "none:null",
            "Resource": "*"
        }
    ]
}