- `virtualenv` works by creating an overlay of the `site-packages` in `$VIRTUALENV`, and change the shebang of scripts to use absolute path of python in the overlay. That way, not only do you get dependencies isolation, but you can also call directly your programs from outside the virtualenv and it will work.
What you propose is both bad practice (relative path in `$PYTHONPATH`) and rather annoying (you need to be in a specific directory to run everything). Trying to automate that will sure end up in pure hell!
- As in "you need to `cd` to _this_ directory then run _that_
- Or "WTF it worked on my machine when I was in this directory but now it doesn't"