> /dev/null redirects standard output (stdout) to /dev/null, which discards it. 2>&1 redirects standard error (2) to standard output (1), which then discards it as well since standard output has already been redirected.
/System/Library/Frameworks/CoreServices.framework/Frameworks/LaunchServices.framework/Support/lsregister -kill -r -domain local -domain system -domain user