It sets permissions (ch
ange mod
ification rights) on all files (-R
= recursive, stepping down through directories) in the file system (hence starting at /
) so that they can be read, (re)written and executed as programs by all users (the 777
part). 000
would be no permissions for anyone (except for the root
user), which would be just as bad.
Wow. You were lucky. That abort might have been what saved you there.