In theory you could rewrite your internal memory (it _is_ internal memory, it just isn't a changeable microSD) and test, but in fact, you probably do not want to - the risk of bricking is high and the hopes for being able to recover is low.
Making it able to boot from external microSD would require a custom version of uBoot - I don't see this happen soon, unfortunately. This, and probably a modification to the Android image, too.
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