Basically, in modern mastering brickwall limiters like Logic's Adaptive Limiter are typically used to set the final overall level of the mastered audiofile, while holding audio peaks to a level just below the digital maximum (0dBfs) to avoid any digital overloads. Further processing would negate this, possibly changing the overall level and potentially resulting in peak overloads, so the brickwall limiter is placed last, to guarantee the proper/safe level for the final Bounce.
For a more in-depth take on it, this video (along with the next few videos in the course) gets into a little more detail about the use of brickwall limiters in general, and Logic's Adaptive Limiter in particular, including a discussion of modern standards and trends in overall levels for mastering..
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