They have been talking about cloud since a couple of years!
The following document answers some of your questions:
Getting Started with Oracle E-Business Suite in Oracle Cloud (Doc ID 2066260.1)
Running Oracle EBS on the cloud is not supported for production systems. It works almost the same way as on-premise installations.
Oracle Fusion Applications is a different product. It was released back in 2011.
Each one of them requires different skill set and maintenance procedures.