So if I have environments A, B, and C and each has a dependency ML-package-1.2 that's 100 MB, it means there's one copy of it in each environment? Meaning 3x100 MB?
By default, yes. It is possible to install ML-package-1.2 into your 'base' python and then have virtual environments A,B and C all use that instead of installing their own copies. However this is generally not considered best practice.