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Heya,
When it comes to networking in DigitalOcean, Public and Private terminologies refer to different types of networks.
Public network refers to the internet. So, Public Outbound traffic signifies the data leaving from the DigitalOcean’s network to the internet and Public Inbound traffic signifies the data coming from the internet into DigitalOcean’s network.
Private network refers to the internal network within DigitalOcean. Private Outbound traffic represents the data leaving your DigitalOcean droplet to another droplet within the same private network and Private Inbound traffic stands for the data entering your droplet from another droplet within the same private network.
For more insights, you can check out our networking documentation here: DigitalOcean Networking Docs.
Hope that this helps!