Crossword Genius

Boatman taken in by very much unknown type of cake (5)

Ross

I believe the answer is:

fairy

I'm a little stuck... Click here to teach me more about this clue!

'type of cake' is the definition.
The definition and answer can be both people as well as being singular nouns.
Maybe they are linked in a way I don't understand?

'boatman taken in by very much unknown' is the wordplay.
'boatman' becomes 'I' (where the crossword setter is 'Boatman').
'taken in by' indicates putting letters inside.
'very much' becomes 'far' (I've seen this before).
'unknown' becomes 'y' (algebra).
'i' going within 'far' is 'fair'.
'fair'+'y'='FAIRY'

Can you help me to learn more?

(Other definitions for fairy that I've seen before include "Mythical being" , "Sprite with a toadstool for a home" , "sort of story?" , "Creature of folklore" , "- Cake, - godmother" .)

I've seen this clue in The Guardian.
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