It stand for "progressive". As in progressive scan. Also, as opposed to 1080i in which the "i" means "interlaced"
All these 17-year old #PCMasterRace fucks thinking 1080p means 1080p(ixels) is really grinding my balls.
EDIT: PCMasterRace is life. It's also full of circlejerking fucktards. Kind of like sep7agon.net