CGL sets up device specific contexts suitable for OpenGL to render to. Compare to wgl and xgl on Windows and X respectively. CGL understands how to query the graphics hardware for its pixel format, and then how to set up and configure a context (e.g. double-buffered or single-buffered, what resolution depth, stencil, accumulation buffer, etc). But it doesn't provide functions to draw in that context. Once you have created the context with CGL, you make it current, and then you can call OpenGL to render in that context.
In Core Graphics (do not confuse it with CGL), both context initialization and drawing into the context are handled by the same framework. But because OpenGL is an open standard and designed to be cross-platform, the rendering functionality and the device context functionality have been abstracted into separate frameworks.