I think it would be possible given new cards, but I imagine it would be incredibly difficult (not to mention game breaking). It would basically require cards that would handle arbitrary branching (algorithmically determined). A set of cards would have to contain effects that form a general template for doing this based on cards in a implementation of memory. I personally think it is unlikely and would be tricky to pull off. I admittedly don't have a very concrete reason for this.
What I find really cool is that, while they might not add a set of cards allowing for arbitrary branching, they could introduce cards that allow for some bounded branching. This could add limitations of resource bounds that are still scalable: polynomial time, space, exponential time, primitive recursion. There seems to be a lot more flexibility here than with some other mentioned "Turing-Complete" systems.
Someone else, here, commented that you would also need to implement infinite loops. Assuming you don't have to fuel the machine with cards, this method could be used to stall a real game indefinitely! Apparently this is possible. O_O