This article reviews the nature and history of the discovery of high-quality natural modes existing on periodic arrays of many subwavelength scatterers; such arrays can be viewed as specific periodically structured open resonators. These grating modes (GMs), like any other natural modes, give rise to the associated resonances in electromagnetic-wave scattering and absorption. Their complex wavelengths are always located very close to (but not exactly at) the well-known Rayleigh anomalies (RAs), determined only by the period and the angle of incidence. This circumstance has long been a reason for their misinterpretation as RAs, especially in the measurements and simulations using low-resolution methods. In the frequency scans of the reflectance or transmittance, GM resonances usually develop as asymmetric Fano-shape spikes. In the optical range, if a grating is made of subwavelength-size noble-metal elements, then GMs exist together with better-known localized surface-plasmon (LSP) modes. Thanks to high tunability and considerably higher Q-factors, the GM resonances can potentially replace the LSP-mode resonances in the design of nanosensors, nanoantennas, and solar-cell nanoabsorbers.