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Wow, blast from the past. Still remember implementing that on some of my first websites.

What exactly does "semantically meaningful and accessible html" mean?

Hopefully "semantically meaningful" is pretty self-explanatory, it just means using HTML elements in an organized and structured way (like not using a span when you should use a paragraph). "Accessible" means usable by screen readers and potentially other accessibility tools for people with low vision or other disabilities.

As an example: Consider using a <div class=“paragraph”> vs using <p>. The <p> tag is semantic and meaningful, whereas the <div> means nothing. A screen reader (or other markup interpreters) can’t tell what a <div> means

Good point. Perhaps, I would think, Bloomberg's menu does this and he can just "borrow" their semantic + A11Y-centric markup?

Exactly my thoughts. Kids these days :))