You are mixing up several things here.
Firstly, Cloud is a very different thing from gOS (or any other Linux
distro), so there is no reason to assume that they exclude each other.
Secondly, gOS (all versions) and Cloud share one thing they have in
common, and that is that they both heavily support cloud computing,
For gOS this has always been the case, so they is ONLY a "cloud
version of gOS", there has never been a non cloud computing version of
gOS. gOS from the start has been build around "web 2.0" principles.
If you ask me, the new Google chrome OS, resembles a mix of both gOS
and Cloud, so maybe it will be the true successor of both cloud and
gOS. I wouldn't be surprised if the people from Good OS were somehow
involved in the development of Google Chrome OS, but that is just an
instinct of me, I have NO inside knowledge in the doings of Good OS.