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It's absolutely possible, and done more and more. Smaller models exist, and run on sub 8GB VRAM without any issue. If you have a gaming setup, you can run the bigger models without any issue locally. You don't need Astra or Mythos or whatever. As a daily driver for "light" tasks (e.g. summarizing a document) small models perform without a significant difference to frontier cloud models. For bigger tasks (e.g. coding or agentic workflows) you need a bit of beef on your graphics card, but it still runs on regular consumer hardware. Anything above that is not needed for any normal use-cases.
This has multiple layers:
Also multiple answers: