It's read. When you open a topic, it adds an entry in there. e.g. When you edit the last post in the topic, SMF will mark that post for everybody else as unread by updating that entry so it looks like the topic is unread (the message ID is set to one less than the last message in the topic). I know that part because that's what I had to code myself back then so editing the last post in a topic would bump it.