[eclipse] Eclipse Workspaces: What for and why?

Although I've used Eclipse for years, this "answer" is only conjecture (which I'm going to try tonight). If it gets down-voted out of existence, then obviously I'm wrong.

Oracle relies on CMake to generate a Visual Studio "Solution" for their MySQL Connector C source code. Within the Solution are "Projects" that can be compiled individually or collectively (by the Solution). Each Project has its own makefile, compiling its portion of the Solution with settings that are different than the other Projects.

Similarly, I'm hoping an Eclipse Workspace can hold my related makefile Projects (Eclipse), with a master Project whose dependencies compile the various unique-makefile Projects as pre-requesites to building its "Solution". (My folder structure would be as @Rafael describes).

So I'm hoping a good way to use Workspaces is to emulate Visual Studio's ability to combine dissimilar Projects into a Solution.