Nah. You can use them like bones with colliding joints so they will move with wind, gravity, swinging and they won't go through the body. I think the two main problems are that there is only a very limited amount of software you can use to generate ingame lowpoly hair, and the creating a shader that doesn't make hair look like wood.
I saw the UE4 hair shader from paragon and it only looks good because there are tons of polygons in there and some of the individual strands are actually cylinders. So there isn't any advanced way to make it look good yet without compromising a huge polygon cost.