This is neat. I haven’t looked into it, but I would think relative offsets could still be an issue, but it seems there must be some translation layer/mmu since the codegen will be different sizes anyway. This would impact jump tables and internal branches, primarily.

I mostly work on stuff from the 90s, but disassemblers make a lot of assumptions about where code starts and ends, but occasionally a binary blob is not discoverable unless you have some prior knowledge (pointer at a fixed location to an entry point).

I would think after a few passes you could refine the binary into areas that are definitely code.