Ok - I installed El Capitain on a partition and tried it.
* With finder I went to AppleGraphicsPowerManagement.kext, did 'Get Info', expanded the 'Name & Extension' thing. The name and extension is greyed out - so I couldn't change it there.
* Next I went to terminal, went to /System/Library/Extensions and tried to rename it with mv. That didn't work either - it gave an "Operation not permitted" error.
So 'rootless' is definately preventing me from doing what I want here - so I turned it off with sudo nvram boot-args="rootless=0". That seemed to work, so I rebooted.
* With finder I want back to the file and did Get Info. This time the name and extension were not grayed out and I was able to change the extension from .kext to .disable
* I rebooted. The file was still called '.disable' - it hadn't magically changed back to .kext or anything. So I turned rootless back on by removing the boot argument with sudo nvram -d boot-args, and rebooted.
* Back in finder the file was still called '.disable' even though rootless was now back on (eg. the names/extensions in Get Info were once again grayed out.
* I verified that it really hadn't loaded the extension in the 'Extensions' area in System Report.
So, at least at the moment, it is still possible to disable unwanted kernel extensions 🙂