Fellowships need some tuning up.

[Valic]

Yikes imagine being this passive aggressive and still going to social forums.

However that link still didn't answer my question

Imagine being this brain-dead that the first link didn't answer exactly what you just asked. Which was...

"What are fellowships for? I just came back, saw them in game and couldn't tell how they were any different than PF."

And the following link allowing you to use the search engine we've had for at least a decade now brings up a link that offers you this exact information...

"Fellowships is a social system introduced in Patch 5.1. It allows likeminded players to form casual communities similar to free companies and linkshells. Fellowships can accommodate up to 1,000 players. A single player can make or join up to 10 fellowships with no World restrictions so long as they're within the same data center. Fellowships can be accessed from the Fellowships menu under Social in the main menu."

Go.... figure... And hey, on that same page, if you just use that single brain cell just a bit more to its full potential... You'll see what they do, how, and what it offers too. It's almost as if we have this plethora of information available at our fingertips to research things when we have a question on something. I'm sorry if this is passive aggressive but at this point if you can't find your own question answered even when it's handed to you directly, you're probably better off not knowing.