Meaning of 'let socket=io()'

#1

I am confused regarding the meaning of the statement let socket=io() in client size javascript. What I think is that io is a server side socket object and socket is client side socket object. So the above statement means we are connecting the client and the server. Am I correct?

#2

No, it is not what you are thinking. io() just creates a socket instance for the frontend.
Read this https://socket.io/docs/client-api/

#3

I have gone through the docs. Thank you. I understand it now