As in “Mikrotik CSS326-24G-2S+RM Cloud Smart Switch”?
Almost as much as the second word (Smart or Router … neither hold much essence in them).
So the only true one is the third one - Switch.
Just marketing non-sense.
10-15 years ago, “cloud” was all the rage out there, so everything had to do something with the cloud.
If the CCR, CRS, CSS product lines were to get released today, they would probably have “AI” in their name instead of “Cloud”, as it is the current cool thing to have in your products…
So as mada3k said, just marketing non-sense.
The cloud in technology refers to:
[1] A global network of remote servers around the globe that operate as a single ecosystem.
[2] Servers accessed over the Internet, along with the software and databases that run on those servers.
[3] Web-connected servers and software that users can access and use over the internet.
[4] Storing and accessing data and programs over the internet instead of your computer’s hard drive.
So the cloud refers to a communication system of Routers and Switches + wires +satellite or artificial satellite’s that access devices like mentioned in 1 through 4 above principally in Data Centers that are or may be distributed globally …
That’s right. What is the cloud, if not a network of routers, switches and servers. It’s not just servers floating somewhere. You need to connect the infastructure.
Find and replace “cloud” with “internet” and nothing changes.
So Cloud… is the internet? And it is not just a marketing term?
Rrright… 
Thanks all. After researching more, I got the impression that it was mainly marketing. I thought it might be some kind of cloud based controller akin to UBNT cloud controller.
I sort of think you could replace ‘cloud’ with ‘datacentre’. It’s just branding for high end models. ‘Datacentre smart switch’, ‘Datacentre core router’