How well do you know tie and ignore, especially to use the C++11 multiple return value idiom?

Please explain this code that uses std::ignore

I'm reading the documentation on std::ignore from cppreference. I find it quite hard to grasp the true purpose of this object, and the example code doesn't do it much justice. For example, in the below code, how and why is inserted set to true? It doesn't make much sense to me.

#include <iostream>
#include <string>
#include <set>
#include <tuple>

int main()
{
    std::set<std::string> set_of_str;
    bool inserted;
    std::tie(std::ignore, inserted) = set_of_str.insert("Test");
    if (inserted) {
        std::cout << "Value was inserted sucessfully\n";
    }
}

If someone can explain the code to me, it would be appreciated. Thanks.