It's not new, it's been around for a long time.
Basically it starts FreeBSD with no SMP, no DMA on various I/O buses, won't probe for devices, do integrity checks on hard disks/SSDs etc etc. I think, basically, it's like Windows safe mode in that it doesn't load a lot of stuff that could be causing your problem; whatever that problem should be. It does permit networking.
(At least that's what it used to do, it may have changed over the years).