Yes, that means I can access all of my favorite desktop keyboard shortcuts on my phone. Need to select all? Function-A. Want to search a page? Function-F. Undo? Yup, I can do that, too. I can even hit Function-L in Chrome to jump to the address bar and immediately start typing in the site I want to go to.
That is something that I miss in my iPhone. The ability to press 'del' or undo.