'What is an ‘`is` value’ of a DOM element node?

While idly browsing the DOM specification, I came upon this passage:

Elements have an associated namespace, namespace prefix, local name, custom element state, custom element definition, is value. When an element is created, all of these values are initialized.

Looking at other parts of the specification, I learned that it is apparently supposed to be a string value or null. However, I have not been able to find out what is it actually supposed to be used for.

Of what use is this concept?



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