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I have to manually split cargo-binstall into multiple crates using workspace to improve compilation time, but even so the single core performance still dominates the total compilation time.
Dependencies are libraries which are shared between dependencies. For an example - when compiling protobuf - there is a third_party directory which includes external dependencies (https://github.com/protocolbuffers/protobuf/tree/main/third_party). Reusing those dependencies in my code can be a pain, especially if a I need to use a slightly different version and the projects are embedded by source.
There are discussions and efforts in that sphere, like the Ferrocene Language Specification, and Mara Bos's Do we need a "Rust Standard"? and RFC: Start working on a Rust specification, but it's also important to recognize that:
https://github.com/rust-lang/crater is the bot they use to test proposed compiler/stdlib changes against slices of the crates.io library up to and including "all of it".