There would have been no such clause in the Fourteenth amendment if jurisdiction has no real meaning. Foreigners legal and illegal are still subject to the laws.
It has meaning. In the context of the 14th it excludes foreign diplomats and members of the Indian nations that reside in the US but have limited sovreignty.
In both cases, the surrendering of jurisdiction is based on treaties between the respective nations.
Immigrants aren't covered and are subject to our jurisdiction.