What does it mean when I make a workspace private?

Summary

There is a setting in Workspace Settings → General → Workspace Setting → Privacy which has a checkbox to make a workspace private. This article explains what the option does when enabled

Solution

Explanation

When a workspace is private, a person who does not have access to the workspace will see a 404 when they access this URL - https://bitbucket.org/<workspace-id>

However, if you try to access a public workspace you do not have access to, you will see the below interface -

You will not see any repositories unless you have explicit access to said repository itself. However, the workspace page will still load if it is a public workspace.