I tested this out, and it doesn't work in Drupal 8, unfortunately.
mymodule.test:
path: '/mymodule/{testparam}'
defaults:
_controller: '\Drupal\mymodule\Controller\TestController::build'
_title: 'Variable Parameter'
requirements:
_permission: 'access content'
testparam: .+
It picks up the route with "/mymodule/hello", but not "/mymodule/hello/world".
There's some more discussion of this here: Slashes in single route parameter or other ways to handle a menu tail with dynamic number of paramsSlashes in single route parameter or other ways to handle a menu tail with dynamic number of params
It looks like there's a solution, but it's pretty heavy handed.