The Contents dashboard lists the contents of the View or Subview that you have selected. It is only applicable to Views and Subviews.
The Contents dashboard is a place where you can manage Views and their contents. Providing you have sufficient permissions, you can create, edit or delete Views.
The Contents dashboard contains one dashlet, which is the View Contents dashlet. By default, the Contents dashboard displays the contents residing directly in a View. Uncheck Show View Hierarchy to ignore the View hierarchy and display all items items in the current View and its Subviews.