@zugadd Here is the list of features you will get.
I think you are comparing with WPEngine.
Let me clarify a bit; there are two kinds of managed hosting. A few providers like Kinsta and WPEngine manages WordPress too. While Cloudways manages the server. Meaning, you are not restricted to the number of WordPress sites you launch.
We do offer backups on the server level. Additionally, you can also use any backup plugin.
You are the owner of your WordPress site. Do whatever you want to do.
$17 plan can handle around +100k visitors per month. If the cache is configured properly. Again, it depends on the nature of your WordPress site. If it very complex and uses a lot of server resources, then you might need an upgraded server that fulfills the requirements.