What's the difference between a workspace and a project?

The workspace is your account: it's where the plan, the monthly allowance, the team, and the brand live.

A project is one site inside it. Each project has its own map, its own connections to Search Console and Analytics, its own Territories, and its own report.

The plan is billed per workspace, so the account doesn't change shape when a new client comes in: a new project does.