Apple is still the gatekeeper in Lion: there are a ton of hooks that auto-install Apple Java via Software Update when it feels you need Java, like running into an applet or invoking the java command line binary.
In the future, they plan on placing Oracle in that role, I guess, but it hasn't happened yet. All Lion does is change it from shipped with the OS to not.
It also seems to remeove the java coocoa bindings and a few other things necessary for some software to work (eg: Juniper SSLVPN JSAM) - it's not clear whether this will be supported through a separate api Juniper needs to use, or whether the bindings needed are just not there.
Funnily enough one must also use safari505 and not 6.whatever in this scenario as well.
In the future, they plan on placing Oracle in that role, I guess, but it hasn't happened yet. All Lion does is change it from shipped with the OS to not.