“V/S” on gate-checked bags

boarding AS2 SEA-DCA this afternoon and noticed every gate-checked bag that pax had left in the jetway had “V/S AS 2” on the tag

in the old days, V/S meant “Voluntary Separation” — which iirc was sort of a “get-out-of-jail-free” card for the airline, in that if the bag was delayed, (1) the passenger had waived their right to file a claim AND (2) that the airline was not responsible for delivery

just curious what the context is today ...