The hier manpage is largely based on the Filesystem Hierarchy Standard, and searching the full text of that document leads to this text (emphasis added):
4.11. /usr/share : Architecture-independent data
[...]
This hierarchy is intended to be shareable among all architecture
platforms of a given OS; thus, for example, a site with i386, Alpha,
and PPC platforms might maintain a single /usr/share directory that is
centrally-mounted. Note, however, that /usr/share is generally not
intended to be shared by different OSes or by different releases of
the same OS.
From that and the text quoted in the question, we can conclude that a site is some sort of logical grouping of systems; say, the PCs in a University lab. The entirety of /usr is supposedly shareable between hosts of the same platform; /usr/share and /usr/etc can be shared between hosts of differing platforms. The quote in the question says that configuration files shared across hosts in a site can be put in /etc or in /usr/etc. One example of such a configuration file is /etc/sudoers, which explicitly supports this by allowing rules to specify the host that they should apply to (see, e.g., Why does the sudoers file contain IP addresses? or The HOST variable in /etc/sudoers).