What is the purpose of the Displays key?

I’ve heard people say it’s a browser toggle, and others say it shifts tab focus, and some say it’s there to change softkeys down at the bottom.

In my experience, it does all of these things to an extent, but none of them well. It isn’t an A/B toggle for neither the browser nor the softkeys, and opening the browser certainly seems to shift focus. 
I’m often pressing it twice to open the browser and sometimes once and sometimes twice to close it.


So what does it really do?

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