The best intent I can think of is showing 1) team sizes, and/or 2) potentially-recognizable faces that a recruiter might interpret as "oh, s/he worked with someone I know is good at X".

But both are likely wishful thinking: I'm sure it's just a list of faces of other users who've put that company/product on their own CV on that particular site, which 1) is an incomplete and unverified potential-subset of people (and therefore not a good representation of team sizes), and 2) hugely unlikely for it to ever be relevant to a recruiter (because how likely is it for your audience to recognize effectively-random faces?).

But yeah, could just as well be people they managed, or people from that company, or people who endorsed them for their specific work in that role, etc. ¯\_(ツ)_/¯