The answer to all your questions in your third paragraph is Yes.
The question mark in a box on a Case structure is the Case Selector. The value wired to the selector determines which case gets executed.
The Case selector is wired to the For loop interation (=0 on first interation). So on the first iteration (=0) of the For loop, the Case returns "Max?" and "Min?". Since Case 1 is the default, whenever the iteration doesn't equal 0, two null strings are returned.