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I'm guessing that this is being done to gain some advantage in search engine results. Is this right?
What is the advantage and disadvantage?
Essentially, what the index page does is:
1. Look for a value for 'page'
2. If no value, display the generic index/homepage
3. Otherwise, reach into the database and extract the content associated with 'page' and display it.
It's mostly used so that people can have a CMS (content management system) that allows them to change their content without making and uploading entire new pages.
It has little to no effect on search engines.