It's still possible, you just have to dance around a little more
In one project we work around this by shipping a tiny wrapper in the APK to exec that then uses dlopen() on the target, which is now built as a library.
Pretty sure a generic hack could be made to run unmodified executables this way. Certainly in the security community userland ELF loaders are very old news, even X11R6 had its own at one point