Can someone please explain how this formula works

=LOOKUP(2,1/ISNUMBER(L1:L1000),L1:L1000)

in the context LOOKUP vector having the following syntax
LOOKUP(LOOKUP_VALUE,LOOKUP_VECTOR,RESULT_VECTOR)

If Column L contains data, ISNUMBER(L1:L1000) evaluates to TRUE (or 1)
with the reciprocal also being 1. Parsed to the LOOKUP function, the
result yields
=LOOKUP(2,1,L1:L1000) - which is nothing like the conventional syntax
quoted above. I am stumped.

TIA


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