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670.

This setting defines which users sharing this folder should get "busy" periods in their freebusy lists and should see the alarms for the events or tasks in this folder. The setting applies to Calendar and Task folders only (for tasks, this setting is only used for alarms).

Example use cases: if the boss shares a folder with his secretary, only the boss should be marked as busy for his meetings, so he should select "Admins", since the secretary has no admin rights on the folder.
On the other hand if a working group shares a Calendar for group meetings, all readers of the folders should be marked as busy for meetings.
A company-wide folder with optional events in it would use "Nobody" since it is not known who will go to those events.