Short answer: I highly doubt it
Longer answer: I assume you mean something like the old YogBox with a tick box where you select the mods you want. The way the launcher works, I doubt this would work without way too much effort. You used to be able to use a config file to toggle mods on and off, but due to the fact that Forge replaced Modloader, this is no longer possible. You can still remove mods manually without too much fuss. As for the purpose of the Launcher, it provides a one stop shop for 5 different versions of Minecraft (many running separate versions of Minecraft) and provides an auto update feature as well as allowing you to back date to most of the previous release versions of Minecraft. I much prefer the new launcher to the old YogBox type downloader that forced you to uninstall and reinstall everytime an update was released.