Node.JS is a powerful, fast developing technology. It allows you to make anything you want as if you write in PHP ot Python. But there are also some nuances that can make you doubt about it, and you can read a good article about them. You will see that Node.js is suitable for big projects.
From my experience, the main trouble when you develop for Node.js even in small projects is
"Callback Hell"
Node.JS is mainly asynchronous, so performing consecutive actions turns into adding one statement in the callback function of another statement, which is situated in callback function of another...
doAsync1(function (callback) {
doAsync2(function (callback) {
doAsync3(function (callback) {
doAsync4(function (callback) {
})
})
})
This is good for performance, because the server is not locked waiting for result, but it is really painful for your eyes, especially when you need to perform large sequential operations, and it slows the development speed. Async.js can help you with it.
But everything else about Node.js is great. Using a framework such as Express and a lot of modules (it is not Python, Node.js does not have a big standard library with a lot of cool things in it) will allow you to build large projects.