No, it’s still linked dynamically and its kernel is still in C++ (see https://github.com/leanprover/lean4/tree/master/src/kernel, this part of a codebase has hardly changed since Lean 3). Almost all the space in the package (more than 2.5 GiB) is taken up by .olean/.ilean/.ir files, approximately 1 GiB of which is generated from the code of Lean’s frontend itself (i.e., parser, elaborator, core tactics, and so on) and the other 1 GiB from a standard library. As you might guess, these files are IR and essentially a compiled Lean’s environment (something like a Lisp image), so that Lean can load them straight up without recompiling and rechecking everything.

There were some proposals like compressing all the .olean files, but (as far as I know) none of them were implemented. Well, even if some proposals were implemented, their contribution was effectively negated anyway.