Definitely need the cloud version. Businesses who are serious about their work let it be in feasibility, scaling, security, etc. will definitely look for cloud version. You can either give time on development or grow your business you can't do both at the same time. With cloud version you won't need to take any headaches regarding development, security, servers, technical expenses. All you need is to focus on your business.
For businesses who can invest in their own development and stable can use Foodomaa script. Being a developer TBH you can't rapidly ask an author to do changes/adding features for your business needs when you are paying them only once while purchasing the script.
Pros of cloud version: more secured, more reliable, better database structure, no cost for servers, can expand easily, no need of other developers, native app, proper notification system.
Cons of cloud version: Less control on codes.
Pros of Foodomaa script: Developer friendly, One time payment.
Cons of Foodomaa script: Can be added more security measures, No proper database structure(Due to rapid changes required by the community), No native app, Notification issues, etc.
Even @Saurabh is not forcing you to switch to any of it. You can use as per your requirement.
Some necessary features in Foodomaa script requires huge structural changes meaning @Saurabh needs to develop Foodomaa from scratch which he is doing but as cloud version.