Only technically. The overhead to manage this rarely works out for the less than wealthy. Not to mention most non-wealthy people make most of their income as earned income.
I'm not sure what you mean by "overhead", but direct indexing has been commodified for the masses for a while. See Wealthfront for example. Even Vanguard is pushing into it soon:
I do loss harvesting every year in a simple online brokerage account. There is basically no "overhead", especially since many brokerages over extremely low or 0 trading fees these days. This isn't difficult.