From reading this article, I have learned that two effective QFTs can be very close together in the "theory space" appropriate to describe for example physics at the LHC scale, whereas the corresponding points in the high energy landscape of all valid theories can be far away from each other (and vice versa).

This makes me wonder how such a thing can happen, I mean:

1) Is there some kind of "renormaization flow" or beta function, that makes the measure of proximity (or metric of "theory space"?) run when one goes from the effective energy scale to high energies at about the Plankck scale (or from the Planck scale down to the effective scale)?

2) What are the mechanisms that can explain such a "duality" between short and large distances in the corresponding "theory space" when going from the effective to the high energy scale or vice versa?