What is the purpose of OEM unlock? What would happen to my device if I enable that option? Will it mean that my bootloader is unlocked?
The purpose of an oem unlock is 2 flash custom roms and or root your device along with a few other things just because you switch the OEM unlock in your developer settings does not unlock your bootloader. To unlock your bootloader you have to enabled developer options select OEM unlock the make sure you have USB debugging enabled and then depending on manufacturer there be different steps take to actually unlock it.