This summary is not the rule. The rule text controls.
Lawyers cannot make deals that stop other lawyers from practicing law in the future. For example, a law firm cannot ask a lawyer to sign an agreement saying that if they ever leave the firm, they won't be allowed to compete for clients or take similar cases elsewhere. The only exception is for retirement benefits, where a firm can set rules about payments tied to a lawyer fully retiring from practice.
This rule also covers settlements. When a lawsuit is settled, the lawyers involved cannot agree to terms that would stop a lawyer from taking on similar cases against that same defendant in the future. For instance, if a company settles a case, it cannot offer extra money in exchange for the client's lawyer agreeing never to sue that company again on behalf of other clients.
The point of this rule is to protect people's ability to choose their own lawyer. If experienced lawyers were routinely blocked from taking certain cases, it would become harder for future clients to find good legal help. This rule keeps the legal market open so lawyers can move between jobs freely and clients can hire the lawyer they want, even if that lawyer has handled similar cases before.