Same here.
In the previous versions that cloud icon used to indicate that the folder wasn't yet completely synced with the iCloud. When the icon disappeared I knew that the synchronization was complete.
But now the icon stays permanently on, which not only renders it useless, but is also an eyesore.
Hopefully it's just a bug that will be eventually fixed.
Or maybe they changed its meaning? Maybe they use it now just to indicate that that particular folder is stored in the cloud, as opposed to local folders which don't have the icon?