I think the main difference is the pricing structure. Usually "cloud" refers to the auto-scaling servers with the pay-as-you go pricing, while VPSs are usually manually instantiated and have a fixed monthly cost. Also, sometimes with VPSs you get more control over the server's settings than with "cloud" services.
So "cloud" is like renting a dynamically changing number of VPSs each month and which are usually more costly if your consumption is not spiky (eg. when a cheap VPS rented 24/7 is enough).