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Limit SKU's >500.000 - Will Magento be capable of dealing with such a large amount of SKU's?

Limit SKU's >500.000 - Will Magento be capable of dealing with such a large amount of SKU's?

Dear All,

I have a question regarding the capacity of Magento. I am trying to develop a webshop with approx. 500.000 to 1.000.000 SKU's. A lot of people have doubts about Magento's capability to handle with this high number of SKU's.

Is it correct that Magento is incapable of dealing with this number of SKU's? And why actually?

Thanks in advance. Your help is much appreciated!