You'd have to have something to convert the starches in the oats to fermentable sugars. Typical beer ingredients, like barley, have enzymes in them that when activated by water at a certain temperature break down the starches in the grain and turn it into sugars that yeast can ferment.
Oats don't contain those enzymes. Generally, oats are used in some beers to provide a slick mouthfeel, and in small amounts, and there is enough excess enzymes in the barley to convert those starches in the oats to sugar. A 100% oat beer wouldn't work, as it'd need something do do that process. It's probably possible that adding some enzymes to the mash could do it, but I don't know how and if it would actually work. I think not, or someone somewhere would be doing a 100% flaked oat beer.
Now, oat malt would be a different story. It should have enzymes in it but I've never heard of it being used in a very big quantity at all.