Can the router dynamically change the functionality of the WAN and LAN interfaces?

Sure, that can be done. But you don't need so many physical interfaces to achieve this. I've got a TL-WR902AC (1x 2.4GHz radio, 1x 5GHz radio, 1x ethernet). I use travelmate to handle the WWAN side of things. And a simple script with a few UCI commands can move the ethernet port between WAN and LAN functions.