Maximum Number of Workers

I am curious regarding how many maximum workers can we run on a given machine. For example, I have Mac M1 which as 8 CPU cores and 16 threads, so the number of workers that we can potentially run without slowing down the test cases is 8 (dependent on the CPU cores) or 16 (dependent on the threads) or is there a limit to maximum numbers of workers which I can use. Moreover, is there any shorter way or a script that we can run to find the optimum number of workers we can run. Previously, I was using the following command to find the best time for my test cases:

for i in seq <min> <max>; do time npx playwright test --reporter=line --workers=$i; done

Where <min> to be your # of CPU cores divided by 2, and <max> to be # of CPU cores times 2.

Can somebody help me visualize this as well by creating a plot between workers and system resources?

Thank You So Much!