Asset Bundles Across Projects

My company has been using Unity since version 3. We have been using asset bundles to dynamically load our environments. We have 700,000 bundles currently. Asset bundles are requested and downloaded on demand as our application requires the assets. We have experience with using asset bundles but, still a have some questions.

Many of the use cases we see with asset bundles assume asset bundles from a single project. Reuse of asset bundles across multiple projects does not seem to be the use case we hear.

That being said I have some questions:
1. With the large number of assets we manage, there is no way to keep them all in the same project. If I have two projects. Each project has essentially the same material (shader, settings, name). Then I bundle one asset from each project referencing this material. Is it correct then that Unity does not see these as the same material, the material will be duplicated in memory and these assets will not be batched together when rendering. Correct?

2. If #1 above is correct. How do we manage assets across projects to share materials / shaders (i.e. if we wanted to use Material Property Blocks with assets across projects, or texture arrays etc...)

Thank you in advance,
Matt