Yes, 802.11ax added all the technology required to allow subchannel slicing in both the time and frequency domains.
Lets say you had a 5ghz 8x8 160mhz AP (maximum allowable by spec): if all you had were 1x1 20mhz clients, you could theoretically have 64 different clients concurrently communicating with the AP without any real problems.
2.4ghz does not have 160mhz channels, but allows up to 40mhz. Ignoring the fact that 2.4ghz is incredibly congested, and you will never achieve peak performance, you can still achieve a theoretical maximum (again, with 1x1 20mhz clients) of 16 concurrent clients.
That said, I'm more interested in 802.11be: MIMO across bands. Instead of hard disabling 2.4ghz (which I 100% recommend all people do: this cures all Wifi ills; and if you have a building that eats 5ghz, either move or spam APs), the AP will dynamically use 2.4ghz as a possible MIMO band.
Theoretical maximum configuration of 802.11be is 40+160+320 (one 40mhz 2.4ghz channel, one 160mhz 5ghz channel, 1 320mhz 6ghz channel), and 802.11be devices will simultaneously communicate across all of them; maximum MIMO configuration has also been increased to 16.
In other words, the future is an AP that looks like a hedgehog, and has 10gbit port.