Hi Simon!
Yes, you can host this model on the Hub and create a Space for it. We actually already host a couple of fasttext models on the Hub, which you can find at Models - Hugging Face.
- Hellisotherpeople/debate2vec · Hugging Face shows nearest neighbor in the widget
- osanseviero/fasttext_embedding · Hugging Face shows feature extraction/embedding.
You can of course create spaces which are significantly more interactive than the widgets.