No it is not (what I thought) a raspberry Pi Cloud, rather PiCloud is a python orientated parallel cloud based service aimed at Scientific computing tasks.
PiCloud Python interface makes it easy to access the resources:
import cloud; cloud.call(yourfunction).
piCloud is oriented towards making long running parallel calls typically used in scientific number crunching. They provide automatic scaling of the service to match the computational needs from no load to peak usage. You can also control the number of real cores you wish to use through the configuration options.
PiCloud had an interesting announcement, they support non-Python things in custom environments, but R is pre-built in a new Base Environment.