A small or minor bishop, or a bishop of lesser importance or rank.
From 'bishop' plus the French-derived diminutive suffix '-let' (meaning small), as in 'booklet,' 'leaflet,' and 'droplet.'
Diminutive suffixes like '-let,' '-ling,' and '-ette' create a whole spectrum of size and importance in English; 'bishoplet' suggests not just physical smallness but lower rank, showing how our metaphors equate small with less important.
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