What does Genesis 50:11 mean?

When the people of Canaan saw the mourning at the threshing floor, they said, 'The Egyptians are holding a solemn ceremony of grief.' That’s why that place is called Abel Mizraim, which means 'Egypt’s mourning.' Genesis 50:11 - Modern Text Bible

(The locals noticed the scale of the mourning and named the place after the event.)