Well there should be no problem if you use it with Gallery (it is used to see about the first frame of each video, just once).
For video conversion : if it takes 1 minute of cpu load, that's 1/1440th of a day. It should be ok, even if there is 100 people on that server.
But if a lot of people use this as a video conversion service, all the day, it will be too much.
So yes you can use it, but in a fair usage.
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