It is a unique monstrosity that boots from the video / GPU core instead of one of the ARM cores. It has an arcane undocumented architecture.
Thankfully, pretty much everyone else just uses U-Boot.
edit: Apparently it's a desktop motherboard firmware thing. Ubiquitous but not technically a requirement for POSTing a computer.
IBM PC assumed existence of graphic output and sometimes Option ROMs did really too crazy things with it, I still have shivers when I hear "intel raid card" because of that one with possibly Win3.x in ROM...
Also, in 2000 when Windows crashed you could get a serial debugger. Wonder if they still do that?