What it is
vSphere Foundation, or VVF, is the smaller of the two Broadcom bundles. It carries vSphere, a defined allowance of vSAN and the operations tooling, but not the full platform with NSX and automated lifecycle management.
What it is for
Estates that want to run virtualization properly and are not building a private cloud. That is most of them.
If you already run vSphere with vCenter and need neither network virtualization nor self-service for development teams, this is the right cut. The path to VCF stays open, and it is a licensing change rather than a rebuild.
What to watch
The line between VVF and VCF does not sit where the technology would put it. It sits where Broadcom drew it, and it has moved several times since the acquisition. Check the current position before you build a multi-year plan on it.