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So you can put 1 individual joint user accounted on one central computer and let it consume all computer ressources, and it can process exactly the same amount of data transfer as a hosted website, or you can choose to have 2, 3 or 1000 hosts. This is exactly what hosted is. It shares the web servers and Apache is highly effective at delivering statistical information.
It gets a little more complicated with vibrant contents like PHP and data bases, but a correctly optimised website on a proper web host can process extreme data for most humans. This was a fixed HTML page, and we didn't even see the amount of web site usage on this site, except that the site was using a bunch of GBs, and I' m sure you need a bunch of hit's to use GB bandwith with 1 page in a few acres.
Last and storage were never met because, as I said, Apache is highly effective, there is no point in counting the amount of CPU needed on a proper web-browser. PHP and database are a different tale now, but that's why most WordPress pages use a caching system that produces exactly the same effect.
However, the trouble with most share hosting's is that they are deceiving to yours. When they use GBs of bandwith or just want to use GBs of hard drive storage, they start using what the vendor thinks is too much. Plus, you get a proper level of sevice for the amount you pay, yes, in the thousand of great hits a Day with a really streamlined website for a few dollars a months.
Will it be a $1 host? Will it be better than having your own personal computer? Most of the time for most folks yes, because we pay for open sources and open sources that would charge you additional and the relays are optimised for data transfer and come with all the whistles and whistles, like everyday backups, optimised kernels, technical supports, etc.
Is it going to cope with the amount of air you can have in your optimised VPS or VPS devoted to your own work? Yes, if you are comparing it to an ultra bad VPS budgets, you probably don't own your own VPS but on the other hand you pay a small percentage of that one.