There are three major types of web hostings;
It is best for basic websites, such as single landing page websites or agency website. I would not recommend it for the websites which have woocommerce support or entertain a huge amount of traffic. (Best for Personal blogs and Landing pages).
It is best for little advance users, such as a freelancer having 10 to 20 websites or clients websites he is currently taking care of. You can also host shopping websites on it with minimal traffic and personal blogs with high traffic.
Dedicated Server Hosting
This is what I own, I run an agency where we develop websites of a number of clients, and to host them and give them perfect quality while having total control of each and every platform, we go for Dedicated Server Hosting, this allows you to have your own server, it is expensive in cost but totally worth it if you own a business.