How many idle agents to keep for this label at all times, including while nothing is queued. This is what makes them hot spares: they are paid for while idle so that the next build for the label starts without waiting for an instance to boot.
It is also the floor the spare target decays to once the label goes quiet, so it is the standing cost of the label.
0 lets the label scale all the way to nothing when it is idle. The first build after a quiet period still has to wait for an instance, but queueing it asks for a whole Hot spare step of agents there and then, so it starts on whichever of them comes up first and the builds behind it find the rest already waiting.