I shoot dslr timelapse seqeunces, so in that real world case.....
My final playrate is 25fps.
Shooting rate for "normal" timelapse cloud movements is about 1 frame every 1 to 5 seconds - it really depends on how fast things in the shot are moving, wide angle shots go better with slower shooting rates, telephots need a faster rate.
Cinematic convention would keep the shutter angle at 180degrees, a motion blur time of 50% of the frame rate. So normal shooting is 25fps with 1/50s exposure. To get the same look in a timelapse shot, you need to keep the ratio.... if you shoot at 1 frame each 4 seconds, then the same look will need a 2 second exposure. When the sequence is played back at 25fps, the motion will look "cinematic".... no jerky, stepped movements, 180 degree shutter.
Simple changes in light can be faked with gradual transitions between a few shots, but anything with movemtn in it (clouds, sun, people) go with duplicating the real timelapse rates.