This feature will zoom and reposition the map so it shows all map objects within the layer you've selected. So it's going to the full extent of that specific layer.

You'll find the 'Go to Extent' menu option when you click the Cog icon alongside a Layer Title.

In this example, the user is zoomed in on one set of map objects.

By clicking 'Go to Extent' for that layer, the map zooms out and re-centres to show all other objects in that layer: