Yep, pretty much it, i believe it’s a shot to neutralise a bad situation where your opponent has gained a upper hand,
usually played when a defensive clear might fall short of the baseline as you are out of position and lunging away,
or a drop shot would be met with your opponent ready to take it high and reply with spinning net shot,
so best option is to float one into the side of court about a metre or so pass the service line,
theory is it gives you more chance of recovery and precision is not such importance like a tight drop shot so percentage of error is lower,
sometimes your opponent makes a error adjusting to the shot.
I’m no coach by any means so if there are more knowledgeable people who care to correct me,
feel free, I don’t want to espouse bad info on open forum.