Is it possible to create shear transformation (for 2 or at least 1 axis) using cascade of GameObject transform operations?
I know that this is possible to do using Mesh API or proper shader, but I would like to know if the same effect can be achieved using only plain GameObjects and some scripting instead.
No. Transforms can only translate, rotate, and scale. Combining those operations never produces shear. You will have to use something else to produce shear.