[nbadg]

In that case I'd opt for dynamic module creation using metaprogramming instead of an import hook. And I personally would argue that grabbing the code objects from module members and re-execing them into a new module object to re-bind their globals is simpler than an AST transformation.

But regardless of the transformation methodology: the import hook itself is just a delivery mechanism for the modified code. There's nothing stopping the library from using the same transformation mechanism but accessing it with dynamic programming techniques instead of an import hook. And there's nothing you can't do that way.