I don't think this counts as threading, though it makes use of it. Threading mostly removes the dispatch overhead, but you still have a general function per instruction, a function call, and an inability to inline constants. Copy and patch could be thought of as a generalization of threading in the sense that you still precompile code for your instructions, but instead of calling that code you poke holes in it to replace constants you only know at runtime, then make a single callable program out of those instead of jumping around for every instruction.
There is a prior, very similar approach in GNU Jitter, but it uses only the compiler and some magic rather than the linker for marking spots to replace. I read about it by mention of moonchild in a thread[0] linked by foota here.