It means if your net worth is smaller than 11 million (as a couple), you have nothing to worry about. The exemption for an individual is 5.45 million.

But there is also annual gifting ($14,000 for an individual, double for a couple) which doesn't count against against the $11 million lifetime exemption. And, most people worth considerable amounts are going to be using Trusts and other entities to grow their money. The current federal AFR is so low right now you can loan an asset to a trust, let it grow inside the trust (estate tax free), and use the profit to pay off the loan interest at no cost to yourself.

There are also states with smaller exemptions but Trump can't do anything about that.