@ Regarding the first video, do you use the new 4.24 hair simulation there? Looks very nice.
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No cloth simulation in 4.23. Same as used on the skirt.
“Large amount” is rather subjective as I mention only vertices that are moved relative to the master target is recorded so even if you have thousand of shapes the actual asset impact is rather low as compared to other necessary elements where performance issues are actually inherited. Complex shaders and draw calls can impact performance much more than an object with 100’s of targets. It’s just magic and mirrors as well as a bad rap that at face value morph targets represent an unacceptable performance loss. As to impact once again it’s all about context as to practical use versus the ideals of what morphing can do as a raw asset.