If the Marker Size field has been populated, the Min Visible Size will be applied to the data point with the lowest value in the Marker Size column/measure. Conversely, Max Visible Size will be applied to the largest value, and all data points in between will be sized proportionally on a scale between these two values.
The image below shows a comparison between two Min Visible Size values. On the left side, data point A (with 0 as Marker Size value) uses size "20", and data point E (with 100 as Marker Size value) uses "60". On the right side, both Min and Max Visible Size are "60", which causes both A and E to have equal size.

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