It means the product was not refurbished by Apple and does not come with a 1-year Apple warranty. If those things are important to you, then you should buy your refurbished products directly from Apple here.
I can't fault my iPad mini 4 on anything except the screen brightness in direct sun. I have a 128GB Wi-Fi only model and a GARMIN GLO2 receiver so that I can use the Follow me intelligent flight mode. The mini 4 and GLO2 are absolutely made for each other. I cache maps at home before going out, or sometimes bluetooth tether to a cell phone in the field. You can't go wrong with the mini 4.
I also have a Crystal Sky 5.5 which is way more visible in direct sun, but quite honestly not as glitch free as the mini4. A bit disappointing for an expensive and single purpose device, but I'm getting to like it more and more I have to say.