It does create separate environments.

Each environment itself only takes a few dozen kilobytes to make some folders and symlinks (at least on Linux). People think of Python virtual environments as bloated (and slow to create) because Pip gets bootstrapped into them by default. But there is no requirement to do so.

The packages take up however much space they take up; the cost there is unavoidable. Uv hard-links packages into the separate environments from its cache, so you only pay a disk-space cost for shared packages once (plus a few more kilobytes for more folders).

(Note: none of this depends on being written in Rust, but Pip doesn't implement this caching strategy. Pip can, however, install cross-environment since 22.3, so you don't actually need the bootstrap. Pipx depends on this, managing its own vendored copy of Pip to install into multiple environments. But it's still using a copy of Pip that interacts with a Pip-styled cache, so it still can't do the hard-link trick.)