Logic Project Folders in iCloud Drive?

So I've seen mentions, but nothing conclusive, in random places as to whether the iCloud Drive in OS X Yosemite will allow a seamless click-and-drag of entire Logic project folders. I was wondering if anyone here has had any experience thus far in attempting this, and whether it works like Dropbox where I could invite other people to have access to my Cloud for collaboration, or at the very least, if I could use it as a digital backup for all my projects? Thanks in advance.