I went into some detail on how the 'Cache & Share' mechanism works here:
The main benefit for the historian is when you're dealing with the exact same query being issued by multiple sessions at once.
Without cache and share, that's multiple hits to the database to return the exact same data.
With cache and share, that's optimized away, trading off some memory for the DB hit.
It is not a general purpose value cache bucket (like Vision has...), something Perspective lacks. That is, cache & share does nothing for a power chart that's querying "the last five minutes", and then a second later "the last five minutes" again, with 4:59 of overlap between the two queries.