The key thing is to understand what is involved to get an Android app to start up. This is terrifying when considering just the Dalvik case, but what most C++ types don't realise is that even if your app is using NativeActivity it means you are really subclassing this: https://github.com/android/platform_frameworks_base/blob/mas...
This means in order to load the native lib you first have to load Dalvik, a whole load of classes relevant to the app, allocate the whole Dalvik heap for the app, and then you rely on the Dalvik code to initiate loading of the native lib. As a result this only becomes worth doing if the gains you're going to make exceed those losses, but I find it's quite common for people to ignore the downside, as a few comments here indicate.
Storage to RAM bandwidth on these things is not exactly stellar, so as a consequence loading takes a while. To make things worse if you want to deploy all supported native architectures you're multiplying the native code size by four, since you will want two ARM builds (v5 and v7), one MIPS, and an x86. As a consequence I'm unaware of anyone that habitually includes all of them, and just putting ARMv7 libs in is the norm.