A row style is an individual style to display only an individual record within a view. For example, a node type view would display one node per row; a user type view would display one user per row.
Some row styles use fields which means you select from the available fields to display; others do not; they are able to use the base type and create a display. Usually, row styles that do not use fields produce less efficient (slower) views, so bear this in mind when contemplating the performance of your site.