On state of being of vectors of gravity (attraction) and inertial force, there will be no restrictions. Therefore, vector of two forces will be possible to be compensate and nothing special happens. Like an elevator in free fall.
Force acting on us on surface of Earth is resultant force of gravity (attraction) and centrifugal force. On surface (solid or liquid) of planets of solar system, gravity (attraction), and centrifugal force (different planet’s rotation) is various. Equivalence principle is unacceptable.