Technically, virtually any on-premises feature can be used on a cloud instance.   How successful a cloud instance is depends on what features you intend to use and how you intend to use them, the communication process with Soti cloud support staff, and sometimes the additional cost you have to pay for some special set-up or resources.  Just remember that

(1) Amazon Web Services hosting Soti cloud instance are charged based on hardware resources (cpu, memory, storage) and outgoing data traffic, and 

(2) A MobiControl cloud customer has no direct access to the AWS admin portal nor  Remote Desktop (RDP) to the Microsoft server instance.  

If anything you intend to use require excessive resources mentioned in (1), resulting in cost that Soti cannot absorb in their standard cloud  subscription fee,  you might need to pay extra to make that happen.

Because of (2), any day-to-day operation/maintenance that need to be done with RDP on the cloud server instance has to be pre-arranged and done by  Soti support team.  If what you need cannot be automated and you need their involvement tens of times every single day,  this likely will have problem(s)l because of the communication latency and the labour cost associated with Soti support staff.

The good side of using MobiContrrol Cloud is that you have Soti experts to handle all the difficult/boring tasks of installation, upgrade, integration, backup, etc.  This can be especially important for small enterprises with limited/no IT team or for large enterprises requiring very complicated implementation.

In all, give sufficient details on your use case directly to the Soti sales/support teams, and let them figure out any possible complication or extra cost that might be incurred.

Please reference related posts at

https://discussions.soti.net/thread/mobicontrol-cloud-instances-are-fixed-and-inelastic/ 

https://discussions.soti.net/thread/mobicontrol-cloud-file-sync-to-on-prem-resources/ 

https://discussions.soti.net/thread/soti-mobi-control-cloud-vs-soti-mobi-control-on-prem/

As already stated by Raymond you don't have any RDP ability to the cloud instance so if any services stall you need to contact SOTI for them to do it for you.  When this has happened (twice in 3 years) SOTI have been quick to resolve.

Yes, your licence costs increase but you can offset that against your need/costs for rack/VM space in your data centre.  You can store files for syncing, scripts etc but there will be a lower limit than if you hosted yourself.

The biggest benefit is upgrades.  When you want to upgrade you raise a request and SOTI handle it all for you.  You still have the headache of out of date agents but you'd have that regardless.

Regarding the File Sync to cloud, if you enroll a PC with access to shared files, it could be handled with 2 file sync rules: one PC to Server, and the other Server to devices.