Yes, Magento 2 is capable of handling a product catalog with 1.5 million SKUs. For optimal performance, consider managed Magento hosting services. These providers specialize in Magento infrastructure, offering robust hosting solutions, performance optimization, and expert support to ensure smooth operations for large catalogs.
It will be OK, I used to work on a site with a little over 1M SKUs. Just make sure you have enough server resources as reindexing might be an issue. Good luck!
Magento is not a system designed for handling large volumes. It is only meaningful when selling one or two products using its multi-store feature. Once you exceed 10,000 products, the site becomes unmanageable. Instead of running an e-commerce business, you’ll find yourself operating more like a software development and maintenance company. You'll be constantly battling numerous bugs, leaving little room to focus on the core business of e-commerce.