It's quite more popular than you think. `M-x term` is an example. It's a full-blown terminal emulator in Emacs that runs entirely in another process. Here is another example of async grep/ack/ag: http://tuhdo.github.io/helm-projectile.html#sec-9 . As you can see, Emacs gets line by line results from grep/ack/ag without blocking and gives you new results and you type.
Or Emacs's fantastic support for communicating with REPLs in many interpreted languages.