Cloud has a few minor differences to self hosted, such as the board URL and email is handled by our server, the abilty to customise robots.txt and ads.txt from the ACP (see screenshots), and an ACP based file manager option (coming soon).
All of those are due to Cloud customers having no server or FTP access.
Other than that, it includes all of the official add-ons, is hosted on servers which are optimised for XF (and therefore fast), and upgrades are done automatically.