The number refers to the level in the current
stacking context[
^]; an element with
z-index[
^] 2 is stacked higher than an element with z-index 1, for example.
A stacking level of 1181 means that will be stacked higher than everything with z-index < 1181, but lower than everything with z-index > 1181. The number seems very high, but that's fine: you don't need all an element for all stacking levels in-between; if you only have an element with z-index 1 and one with z-index 1181, the one with 1181 will just be stacked above the one with z-index 1, so there it wouldn't matter if it was 1181 or 2.
So why the developer used 1181 is something we can't really know. I doubt there are actually 1180 other stacked elements (or more, because z-index can be negative as well). It could be that he used huge gaps between z-indexes just in case he would add new stacked elements later on, but I'm just guessing here.