no, it means that you can set up a memory limit (budget/pool) and it will load textures or lower versions of them (mips) within that budget.
a very crude example would be if you have 10 textures of 1 mb each and your texture streaming budget is 9 mb then one of the teture will load at the highest mip i.e lowest resolution.
of course in reality its much more complicated because it’s algorithm is distance based and frustrum based and probably factors in other things…