The bdist_dumb formats have exactly that problem: they're too dumb.
They basically create a tarfile (or other archive type) with full
pathnames in it and that's it. However, there could be a bdist_xxx
which would create a tarfile in which everything was relative, but the
directory parts are magic. If you extract this tarfile with a normal
tar you would get a directory with under it directories INSTALL_BASE,
INSTALL_PLATBASE, ROOT, etc etc etc. Or maybe all these would be rooted
in a xxx/platform.machine.version directory, probably a better idea.
The tar file would also contain the setup.py script.