That metal plate on the bottom of the cylinder holds a short piece of rubber hose in a hole in front of the brake lever, to prevent its slack bouncing around, and to slightly hold the lever pressure against the master plunger when the brake is not in use. If the master cylinder is leaking from the lever's piston, it will leak out there. This slight pressure on the lever was considered a 'constant bleed' approach in case air developed (somehow) in the brake system's line. The early bikes had a complex offset cam, washer and locknut there instead of the rubber hose cushion piece, that's how important Honda considered this little item to be. In actual practice, the rubber hose/rod in the hole worked as well, and didn't require tedious setting of the position after a rebuild.