For the sake of "saving" your post (even as someone who has no idea how nextcloud works)... I made a quick search regarding nextcloud and the nextcloud docs says it needs a minimum of 128MiB ram per process while they recommend 512MiB which doesn't seem that much of a resource beast at all...? It COULD work, but not as good as your typical nextcloud setup with over 10 processes or something of the sort. Probably a headless/bare metal setup with dietpi, I guess?
Then again, as I said previously... this is a totally ignorant take on saving your post, but eh... who on earth would want to run nextcloud with less than 10 processes anyways? So I'm gonna go with "Yeah it does, but you'll (eventually) want to switch to a better sbc later on."