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Pay what you want means you can pay whatever price you want as long as it is more than the minimum price (in this case ).
Why would a seller do this?
Sellers understand that you might not be able to pay the full price. For example, you might be a dollar short but would love to purchase the item. In this case, the seller says it is okay to pay a little bit less, you can still get the item. On the flip side, you might have purchased items from the seller before and know the seller offers great items. In that case, you might want to tip the seller by paying a little bit over the recommended price.
Will I get the product if I pay the minimum price?
Yes, as long as you pay at least the minimum price, you will receive the item.