Not really. You can’t use young dragons as minions at tier 4 without bogging down the game. Or how about using hezrous and chasmes in numbers? Check the auras; players are expected to roll several saves at once, plus you’re supposed to keep track of who saved against which demon. The monsters aren’t working well as weaker foes when you need several of them. Also, ”minions” in 5e aren’t as threatening because a good area spell takes them out even when the minions succeed on the save.
There is clearly a difference between the 4e and 5e approaches, and the 4e approach has produced more enjoyable results in my games.
And while 4e creatures lack an ”inherent” level like 5e or older editions creatures, they actually do have an inherent power metric: their XP value. You can represent the XP value in different ways, from minion to solo.