Late "edit": Turns out I'm the confused one! (Bit of sleep dep...) I thought this was the main menu for a page, just in a weird low position, but it's the menu that appears on hover for each item and in this context indeed would be interpreted as a drag handle. In this context perhaps something unambiguous like three vertical dots would have been better?

Also I agree with you -- perhaps the three lines represent a pictogram of a list (vertically stacked menu items?). And the triple dot version is either a compacted version of the same, or a vertical ellipsis?