This is trivial, when people talk about eBPF they are talking about the implementation, its like saying you could put lisp code in C, if only you modified the C compiler.
The implementation that exists in Linux is perfectly capable of running unbounded loops. But it runs your program through a function that rejects your program if it can't prove that it terminates.
The point being that you could rip the eBPF implementation out of the kernel, remove the verify check and have a very usable VM.