I think it is just that PGND (power ground) is for the high-current grounds like the output and the bottom of the capacitors, and GND is more for signal connections only and is connected to another pad on the board.
On a buck regulator like that, the output current is either comes from the input VIN on the MAX17502 or from the freewheeling of the inductor, so it comes from PGND on the MAX17502. When the current comes from the VIN, the capacitors C5 and C6 will be providing much of the current, and when the current comes from PGND, the capacitors will be charging back up. That switching is very fast indeed and can cause problems, so it is important to keep the loop made up of PGND, VIN and the capacitors as small as possible.
That...