Before the IoT Hub was made available, the EventHub was the way to send telemetry to the cloud.
The drawback was the shared key. all devices used the same key. If one device was compromised, all devices were compromised.
The only way to protect your key was to switch between primary and secondary keys.
If you still want to share the same credentials to a single cloud connection, consider an EventHub. This will ignore everything in an IoT Hub, it's just using another resource.
WARNING: Keep in mind, IoT Hub is superior to the Event Hub both in features and security!