Negatory. It is designed for what they need it to do. I doubt they would create a brand new engine that is inflexible and incapable of expansion and large-scale modification for whatever purposes they may require for future games. If they need dragon dogfights, they would surely find a way for it to work.
What if... What if the game (or a mod :chaos:) included a separate world space of mountain tops & clouds, where an areal dragon fight (of some kind) could take place at fatal speeds ~if you hit the mountain you'd be dead anyway, and if you fell off, you'd not survive hitting the ground. :shrug:
Landing could be on a perch or deck of some kind; or if you descend far enough, the dragon auto lands and you dismount.
I would not mind something like this in Skyrim: http://www.youtube.com/watch?v=NsEA2OgC0RE
(Real time, with full control would be nice ~but... I'd be fine with a more structured flight if needs be.)