Copying from the man page:
dracut creates an initial image used by the kernel for preloading the block device modules (such as IDE, SCSI or RAID) which are needed to access the root filesystem.
Again, copying from the man page:
-H, --hostonly Host-Only mode: Install only what is needed for booting the local host instead of a generic host.
The default configuration is host-only. This is defined in
in the line: