What a negative keyword means
A negative keyword does not attract traffic, it subtracts it. It acts on a set of searches that targeting has already declared eligible, and removes from that set everything containing the excluded term. That is why it only makes sense after you have decided what you are buying, never before.
It is worth distinguishing it from pausing a keyword. Pausing withdraws one specific positive keyword and leaves the others intact, and those can still be matched to the same search by meaning. An exclusion acts on the search, not on the keyword, and blocks serving regardless of which positive term would have triggered it.
It is also not a quality filter or a signal for the bidding system. It does not improve relevance on its own and does not tell Google what you prefer, only what you refuse to pay for. The effect on quality arrives indirectly, because irrelevant traffic stops accumulating impressions without clicks.
The biggest source of confusion is that a negative keyword is written with the same notation as a positive one, quotation marks and square brackets included, while the rules behind it are different. That asymmetry is the usual cause of exclusions that fail to block what the advertiser assumed.