Ok, this is what I've worked out so far (please tell me if I'm not making sense):
In app.html, IonNav creates a local variable, #content, so that others can access it. IonMenu is setting an attribute to this local variable so it has access to IonNav, and consequently the navigation mechanism so it can update the menu accordingly.
I assume this is happening in the background as nothing else seems to be using IonMenu's 'content' attribute?
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'content' attribute in Ionic 2 'getting started' tutorial
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