What does 'Reference Pixels per Unit' change visually?

In a canvas, I have the “Canvas Scaler” set to “Scale with Screen Size”, and I have a text and a Create → Sprites → Square in the canvas. Out of curiosity, I tried changing the “Reference Pixels Per Unit” 100 to 50 and other numbers, but that didn’t seem to change anything when I pressed “Play”.

How can “Reference Pixels Per Unit” make a noticeable change? “Pixels Per Unit” in the Square’s import settings actually changes the square’s size, from what I can see, but I’m wondering what “Reference Pixels Per Unit” changes.

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Just did an experiment. Sprite with pixels per unit set to 100 and canvas with reference per unit set to 200 will make the sprite shown twice larger than sprite with pixels per unit set to 100 and canvas with reference per unit set to 100. But in order to make the change happen visually, you need to click Set Native Size of the Image:

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Reference Pixels Per Unit: If a sprite has this ‘Pixels Per Unit’ setting, then one pixel in the sprite will cover one unit in the UI.

I suspect it means “how many pixels occupy 1 world unit” in other words, how many pixels fit in one-meter distance