I honestly don’t know. User activity levels vary substantially, there are different kinds of notes beyond just short and long text, and a single black swan event such as “Reply Guy” or even a misbehaving client can drastically change the outcome. Maybe folks running WoT relays, such as Utxo and @Girino Vey! can give you a better idea.

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For a single user, you can store all your notes on a Raspberry Pi. For 500 users, storage needs remain modest, around 2 GB per year. The main limitation of a Raspberry Pi is disk performance. High loads often occur due to I/O wait times. To achieve reliable performance, use a Raspberry Pi 5 with a PCIe NVMe adapter and NVMe drive. With a 100 GB NVMe disk, you could realistically run a full public relay.