Pool pumps are generally "high head" or high pressure pumps as they can push water up a higher distance. This allows them to overcome the dynamic and static head loss (resistance to the flow of water) of your entire plumbing system so that water can flow through it and a given pressure range and flow rate.
Waterfall pumps (low head or low pressure), or pumps that supply a water feature with an open end (sheer descents are another example) are pumps that typically generate higher volumes of water flow at lower pressure. When running a waterfall, you don't need a geyser of water shooting 25 feet into the air but rather just a very high volume of water moved over a shorter distance. A lower pressure waterfall pump typically can't move water as far and as high as a pool pump.
The reason why you would want a high flow rate, low pressure waterfall pump is to avoid a condition called cavitation. Cavitation is when the water pressure and velocity gets so high that the flow becomes turbulent inside the pipes and pump. This turbulence causes the formation and collapse of water bubbles which can physically damage the interior of the pump's wet end (impeller and volute).
I have an example of this in my own pool - the pool builder put a 3HP Single-speed Pentair WhisperFlo pool pump on my waterfall. I had to add a valve to the return pipe to choke the flow off because, if I did not, the water velocity inside the pump would cause cavitation. It sounds like the pump has marbles rattling around inside it. A waterfall pump would have been a much better choice.
Low head water feature pumps also typically operate at lower speeds due to their motor design and thus use a lot less energy to move the water since high pressure is not required.