What does "As Is" mean

In the past week or so I am beginning to think that either i am going somewhat crazy or AS IS doesn't mean what I thought it did, I have been getting Buyers inspection requests from buyers "just to see if they would do something"  or "just fix that, now the items i have been getting is either petty or just trying to get the price down.

if the seller would be crasy to answer, does that allow the buyer to cancel the contract due to the seller refusing to make reasonable repairs?

My opinion is that this was handled when the buyer signed the contract, am i missing something?