Wordpress hosting is a marketing term used by hosting companies to create a new product in the eyes of customer. It is just a slightly upgraded version of normal shared hosting optimized for wordpress websites. Managed hosting is where the server is already setup and ready for the customer with a user friendly panel (Cpanel, Directadmin etc). A common example is shared/reseller hosting. Unmanaged hosting is where you get a server VPS/Dedi. You have to setup configure and manage it yourself. Here you have full control on the server and you can adjust is according to your needs. What cloudways does is it charges you a certain monthly price and delivers you a managed server from cloud hosts like DO, GC, Vultr, AWS, Linode. It is for people who want to benefit from cloud servers but don't have the technical knowledge to to so. Cloud servers are far more superior to normal hosting companies so people prefer them but the only hassle is in managing it which one can do himself or services like cloudways.