Only in a world where code gives up control perfectly. But in practice, this is very difficult to achieve. The language basically provides no tools. And using concepts like coroutines/generators is just messy in practice. So while you can do it in theory, in practice it can quickly become a nightmare of chasing "uncooperative" parts of code, with a slow user-experience as the end-result.

It is also "bad software-engineering", as you are now forced to think about slicing up your code, which, in an already complicated application, can lead to bad code.