I do hate the term "serverless" as it makes no sense, but I think of cloud as a system that automatically spins-up/down VPSs based on your current usage. This means the infrastructure/software also allows for automatically load-balancing between those VPSs. So I think of cloud as the VPS servers that are used to host the actual data + the layer on top that does all the scaling, provisioning, load-balancing, etc.
