I think it'd be a little too specialized for ClientBundle itself to support such a thing - that said, a custom *ClientBundleGenerator subclass could be used in conjunction with file naming conventions to work this out. The basic idea would need to be that each file has one of several suffixes, and that there is some bootstrap property (akin to user.agent and locale) to decide which suffix to have built in to that ClientBundle impl.
Or, take the approach of allowing standard resources as well as DPI specific resources, and define a new ImageResource type with a matching ResourceGenerator. Use the ImageResourceGenerator's locale specific wiring as a guide for picking out a dpi-specific file -- or if you aren't using the i18n features, use this locale _as_ your dpi.
But yes, my suggestion had been to create appearances - this would go beyond just images then, and allow you to have the rest of the control that android has, with defining new layouts, etc - phone vs tablet vs desktop probably need more than just different images, but in some cases, not a lot more.