For screen reader users only, this provides them with the information that activating this link will open or close a menu.
Screen reader users do not need to open or close menus. Menus do not take up space or sit in front of other content. Closing a menu offers no usability benefit to a screen reader user.
All they need is the options to be present under a navigable heading that they can skip to when they need to access those options.
Meanwhile, non screen reader users are forced to guess what will be behind the ≡ button this time.