There is not much documentation yet surrounding the release of Scheduled Flows (Winter 20).
This article (https://releasenotes.docs.salesforce.com/en-us/winter20/release-notes/rn_forcecom_flow_fbuilder_start.htm) states that "When your flow starts, a flow interview runs for each record that matches your filter—no looping required. The matching record is stored in the $Record global variable, so you can reference the variable or its fields throughout your flow."
So my question is this. Does anyone know how this relates to bulification? If it runs the interview via the $Record global variable, then do I assume that I don't bulkify my update to a set of records, but rather have an Update Record element in the flow for every record, and then assume that the schedule automatically wraps these up into a single Update?
Also, do I assume that the $Record global has access to all fields on that object during the interview? Since I am not performing a "Get" and therefore are not able to specify the fields I need to complete my operations?