You can approximate this somewhat today by distributing only an .asar or .zip archive of an application package and encouraging:
npm install -g electron
electron ./myapp
Or as npx gets more widely deployed:
npx electron ./myapp
That's not a particularly "robust" way to install applications and you can't use native libraries outside of the base Electron distribution, and you'd mostly only be useful to devs with NodeJS already installed, but it's an option of a sort.
(It still won't share as much runtime memory as you might want, but it would reduce install footprints at least.)
There's also experiments like electrino [1] to force more use of platform webviews since all of our platforms have a webview built in anyway, trading some additional testing for bundling Chromium everywhere.
I'm surprised that I haven't yet seen a fork of electron-windows-store [2] that makes use of the UWP webview, as that seems an obvious enhancement to me. The Electron remoting between webviews and Electron code is already setup well enough you should be able to run the Node app as a UWP background app and use UWP remoting.
(It still won't share as much runtime memory as you might want, but it would reduce install footprints at least.)