It's from a cheap pine wardrobe I've just sawn up for firewood. The panels were loose, and I can't see the reason for slot at the bottom. No one machines things for fun, so I assume there is a reason?
possibly to try and stop it splitting, with the relatively wide panel groove perhaps adding smaller groove helps to stop splitting or perhaps other parts use the narrow groove and the manufacturer just cut both grooves to standardise
The last couple of pine wardrobes I've taken apart had panels made from thin tongue and groove boarded so could the wide part of the groove be for the board and the narrow slit for the tongue?
Yes! of course. I'd only noticed the square sided grooved side of the panelling. The small groove is unnecessary one side, but it wouldn't make any sense to machine the two sides differently. Incredibly obvious once someone's pointed it out.