All the major chess websites and organizations use a similar Elo-like rating system where 1500 is about the 50th percentile. So, roughly speaking, 1700 probably means "when you're at the 70th percentile of active chess players".

One example: https://lichess.org/stat/rating/distribution/blitz

Ratings on chess sites are massively inflated compared to USCF/FIDE ratings. 1700 on lichess is probably somewhere around 1200 USCF.

It is not really inflated, they just use a different middle point. Lichess start you at 1500 and therefore, 1500 will be the median point of the distribution, Chess.com start you at 1200 so this will tend to be the median point.

It is really obvious when you look at the stats for classical or rapid for example: https://lichess.org/stat/rating/distribution/classical

Actually looks like it's around 1500 USCF. https://chessgoals.com/rating-comparison/#Lichess_Rating_vs_...

I bet "The queen's gambit" Netflix series is causing inflation as well.

I'd guess that's also why this is on the front page.