Whats the difference between next and next static on cloudflare pages?

Hi there,

In my Cloudflare build settings i see 2 different options for next.js
Screenshot 2022-11-21 at 12.48.48 PM

I understand the static option because Cloudflare serves static content via CDN and NextJS exports static content, both of which work flawlessly.

What is this new option in Cloudflare for next.js? Does this let me run a fully functional NextJS app on Cloudflare, similar to Vercel? Any techies who have video tutorials or blogs regarding this or Cloudflare documents explaining what I can and cannot do when hosting NextJS with Cloudflare compared to Vercel.