Public Project: A project that is designed for external sharing, meaning it can be accessed by anyone who has the link. This type of project encourages collaboration and visibility, allowing anyone, including those outside your immediate team, to view and draw inspiration from it.
Private Project: A project that is intended to remain confidential, and accessible only to designated team members or collaborators (editors and guests). This type of project serves as a secure space for brainstorming, refining, and executing ideas within a close-knit group, ensuring privacy and discretion throughout the creative process.
Additionally Public and Private Projects have different user permissions which you can check out here.