Yes, Angular can have many top-level components. You can check it easily for yourself:
@Component({selector: 'a-comp', template: `A comp`})
export class AComp {}
@Component({selector: 'b-comp', template: `B comp`})
export class BComp {}
@NgModule({
  imports: [BrowserModule],
  declarations: [AComp, BComp],
  bootstrap: [AComp, BComp]
})
export class AppModule {
}
------------------
<body>
    <a-comp></a-comp>
    <b-comp></b-comp>
</body>
Under the hood mechanics
Angular will create two separate trees of views and attach both to the ApplicationRef here
PlatformRef_.prototype._moduleDoBootstrap = function (moduleRef) {
        var appRef = (moduleRef.injector.get(ApplicationRef));
        if (moduleRef._bootstrapComponents.length > 0) {
            moduleRef._bootstrapComponents.forEach(function (f) { return appRef.bootstrap(f); });
  --------------------------------
  // will be called two times
  ApplicationRef_.bootstrap = function (componentOrFactory, rootSelectorOrNode) {
  ...
  ApplicationRef.attachView(viewRef: ViewRef): void {
    const view = (viewRef as InternalViewRef);
    this._views.push(view);
    view.attachToAppRef(this);
  }
And then, when change detection will run applicationRef will go through these two views:
  ApplicationRef.tick(): void {
    ...
    try {
      this._views.forEach((view) => view.detectChanges());
      ...
Fascinating things
What's even more fascinating is that you can attach the <b-comp> to the application programatically without specifying the component BComponent in the module.boostrap: []:
export class AComponent {
  constructor(r: ComponentFactoryResolver, app: ApplicationRef) {
    const f = r.resolveComponentFactory(BComponent);
    app.bootstrap(f, 'b-comp');
---------------
@NgModule({
  imports: [BrowserModule],
  declarations: [AComponent, BComponent],
  entryComponents: [BComponent],
  bootstrap: [AppComponent]
})
export class AppModule {}
--------------
<body>
    <a-comp></a-comp>
    <b-comp></b-comp>
</body>