Absolutely. This was just in my own experience with my own project. Only a few tables of json with high cardinality on a basic 1 vCPU and on 1gb ram NVMe vps. It's access patten was read-only as that was only what I wanted to test. I could run the same with less specs using sqlite than postgres. But again this was simply for my own project. I'm sure it might be different for another environment.