Priority in this context refers to which two slots the IMC (internal memory controller) looks for first. Putting RAM in priority 1 helps maximize performance.
There is only really priority 2 because slots A1 and B1 are also needed for use with all 4 sticks of RAM. If the motherboard didn't support 4 RAM modules at the same time there would be no need to even provision a 'priority 2' as a possible choice.