That's just a variable name. You are right, conventions suggest that underscore refer to private members in an object such as:
const num = 2;
function Multiply(num) {
    this._multiplier = 2;
    this._input = num;
    this.start = function(){
        return this._multiplier * this._input;
    }
}
const product = new Multiply(num).start(); //4
But the concept of private members has nothing to do with your example.
In your case, _() is actually a function;
function _ (){
    return "I love potatoes";
}
a function that returns an object that contains the .has() method. The structure of that function of yours could be dumbed down to something like
function _(args){
    const content = args;
    return {
       has: function(data){
          //do something
          return true; //some boolean expression
       }
    }
}