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The Gentoo news post is not about having /bin and /usr/bin as separate directories, which continues to work well to this day (I should know, since that’s the setup I have). That configuration is still supported.
The cited post is about having /bin and /usr on separate partitions without using an iniramfs, which is no longer guaranteed to work and had already been awfully iffy for a while before January. Basically, Gentoo is no longer jumping through hoops to make sure that certain files land outside /usr, because it was an awful lot of work to support a very rare configuration.
“WM8650” seems to indicate a VIA WonderMedia WM8650 armv5te chipset, used by a lot of anemic Android laptops circa 2011 (sold under various brandnames, but apparently all made in the same factory). People have installed Linux on them in the past (there seems to have been a fad for Arch on these for a while, given the search results), but you might have trouble getting a device tree that will work with a modern kernel.
Honestly, though, it has less processor than a Raspberry Pi 3. Unless you’ve already thought of a specific use for this, I’d dump it back in the junk drawer.