A saved collection of view settings - visibility and graphics overrides, scale, detail level, phase, view range, and more - that can be applied to a view in a single click, and optionally locked so nobody can accidentally change it. View Templates are how an office keeps every floor plan, section, and elevation looking consistent across a project (and across every project, if the templates live in the office Template), instead of every team member configuring visibility settings by hand.
They are one of the highest-leverage tools in a well-run Revit office: a good set of view templates turns "make this drawing look right" from a 20-minute manual task into a two-second dropdown selection.