Of course it is practically possible, as long as the developers care about backwards ABI compatibility - the issue isn't if it is possible or not (it certainly is as actual existing APIs and libraries show), the issue is library developers breaking their libraries' ABIs.
But that doesn't mean it isn't possible to do something like this, it means that you have to stick to libraries that do not break their ABIs. And this has absolutely nothing to do with Linux you brought previously, everything i mentioned works on Linux and any other OS that supports dynamic linking and has ABI backwards compatibility for the applications that run on top of it.
