Considerably more in many cases. The point of floating point is to have as many distinct values in the range 2-4 as are in the range 1-2 as are between 1/2 and 1, 1/4 and 1/2, 1/8 and 1/4, etc. the smallest representable difference between consecutive floating point numbers down around the size of 1/64 is on the order of epsilon/64

Multiplying epsilon by the largest number you are dealing with is a strategy that makes using epsilons at least somewhat logical.