Yes, you are correct.

Originally, I wanted to talk about a Latvian baker and a Finnish baker for clarity because they both use the euro, but I don't like to write things that are false as I was in fact, in Serbia.

One could argue that the Serbian baker earns less because he earns in a currency that isn't valuable; and that his PPP could be greater than the one I enjoy in Belgium, for example.

But it's never the case. In a globalized world with worldwide markets of goods denominated in dollar, PPP will necessarily be lower in countries with weak currencies, unless the country produces most of what it consumes domestically, and buys very little abroad (besides for Wakanda, I have no examples in mind).

So in the end, PPP hardly matters because it will be downstream of currency stength, itself downstream of the worth of the economy. This is the "cost" of globalization.

Also, population size does not matter at all. The only thing that matters is productivity per capita.