Consider $x,y \in \mathbb{R}^n$.
Then the condition $x \bullet y = 0$ is easy to understand; it just means that $x$ and $y$ are orthogonal.
Question. Does the condition $x \bullet y = 1$ have an easy-to-grasp geometric meaning?
In the $n=1$ case, this is just the statement that $x$ and $y$ are multiplicative inverses.

Of course we can always (if it is non-zero) chance the value of $x \bullet y$ by multiplying one of the vectors by a scalar. To remove this problem, let me fix $y \bullet y=1$, i.e. $y$ is a unit vector.
As @Ranc mentioned in the comments, the map
$$P: x \mapsto (x \bullet y)y$$
is the orthogonal projection on $y$, hence $(x \bullet y)=1$ - which is equivalent to $Px=y$ - has the geometric meaning, that $x$ lies on the hyperplane, which contains $y$ and is orthogonal to $y$.
More generally, $|(x \bullet y)-1|$ is the shortest distance from $x$ to that hyperplane.