Devil is usually in the details (and in the exact implementation), but yes, naturally - there bigger your dataset is and the more “stuff” your app does (more users, more pages, more actions, etc) - the more resources it uses.
Here’s a great high level reference from Bubble on this topic: https://manual.bubble.io/architecture-optimization-and-limits-of-the-bubble-engine/performance-and-scaling
However, it’s all about the implementation really. There has been a countless amount of performance-related discussions on this forum, and it almost always boild down to how you structure your data and how you query it.
Here’s a great example of a tanle with mutiple millions of records being queried fast being lightweight enough:
Hope this helps 