The cutoff point is there for two reasons -
1 - There is a big showstopping bug in Android 4.0.3/4.0.4 where 'unoptimized' ARMv5 binaries in an APK will get used on an ARMV7+ CPU unless you use a 'workaround hack' - and I really don't want to rely on that. I was left scratching my head for over two months why binaries were so slow as they were until I inadvertently was made aware of this major bug - and really, trying to flood bug reports about 'core is really really slow' would be such a minefield to go through knowing that this issue is out there that it's just not worth bothering with.
2 - I would just get swamped with too much bitching from people with underpowered phones (and they really WERE crappy back in those days) that want their favorite core to run at fullspeed - and I can already guarantee you that on an operating system like Android, that would be a very, very, very hard thing to do (if not impossible). Really, these ARMv6 phones are on their way out and the sooner you buy a new one, the sooner you will be doing yourself a favor and getting rid of the bad hangover.
If you're really DESPERATE for ARMv6 RetroArch - you'll have to learn how to checkout git repositories, how to do the manual compiling of RetroArch and make a version yourself. Nothing is stopping anyone from doing this - but I'm just not going to do it officially.
