I
read recently that ARM's 64 bit instruction set does support larger embedded offsets and constants. I think the hope is that when inline data is sufficient, you save a clock cycle or two, or a cache entry, or give the databus something better to do. In other words, it's a performance win. Whenever the embedded offsets and constants are too big to be inline, there has to be a fetch from memory - in other words, nothing is impossible, it just costs a little performance and a little complexity in the tools.
I've certainly heard the idea that ARM's changes to create their 64 bit instruction set are a big bundle of complexity and detail - it's an even less simple machine to understand and program than the original, and there's a case to be made that the original ARM is not as simple as one might have expected from the RISC label. (But ARM was built at a particular time with a particular technology, and arguably makes reasonable tradeoffs for its implementation. It was never minimal, it was reduced.)