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Do you think lemmy will sustain scalability?
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Economically, I'd say yes. You can get a vServer for like 10€ per month and it'll have something like 200GB of storage and more than enough computing power to run lemmy. Text is small so only posting many pictures/videos could be a problem. But 10€/$ is kinda affordable even for a single person and the storage should last you quite a bit. Even if you share the instance with a few of your friends.
And you could even have a community or non-profit pay for a larger vServer and ask everyone to contribute a bit of money. I'd be surprised if you needed more than say $3 per month and person. (probably less?)
So economically, I'd say it's easily doable.
Technically, depends on what the developers do. There are still quite some issues to fix. And I'd consider caching and how easy it is to set up an instance for your community more technical problems.