As I understand it, the kernel now includes capabilities that can do the same job that kernel wakelocks were invented to do. However, it would take quite a bit of effort to convert the android userspace to use this (somewhat) new feature.
userspace wakelocks can be implemented without needing anything in the kernel.
I actually think that wakelocks are a poor solution to the problem of 'how do you save power', especially when you have things like 'if the screen is lit up, take a wakelock to prevent the machine from sleeping'