This was something previously discussed with regards to the Name Wrapper.
Only labels that are 255 bytes or less (not characters, bytes, UTF-8) are allowed in the wrapper. Since the new manager UI will use the new registrar controller which goes through the wrapper, you will not be able to register any such name through the new UI. You will not be able to wrap any existing name with a long label like that either.
Each of those characters encode into four bytes with UTF-8 I believe. So you could only have 63 of those characters in a label. That name appears to have 389 of those emojis in it, so 1556 bytes, over 6 times the limit.