Cloud Foundry is a platform as a service (PaaS) that allows developers to build, run, and scale applications without managing infrastructure. It is not meant for developers to download and run directly, but rather for IT departments to set up and manage. Cloud Foundry does not manage infrastructure resources like virtual machines or networks - it focuses on running and managing applications and services. The key benefits of Cloud Foundry include automatic application scaling, dynamic routing, health monitoring, and support for multiple infrastructure providers through its use of BOSH and other open source tools.