I read "the beast in the jungle" by Henry James, and found the phrase "as may be" embedded in a sentence, just as below.
"When they were two they either mingled their sounds of ecstasy or melted into silences of even deeper import, so that there were aspects of the occasion that gave it for Marcher much the air of the “look round,” previous to a sale highly advertised, that excites or quenches, as may be, the dream of acquisition."
Then I can't understand what this phrase means and how this grammatically works. If you don't mind it, please teach me these points.