1. If you have the Photography, Photoshop Single App, or All Apps subscription, then Photoshop for iPad is included in your subscription. Fresco is free, and if signed in with your paid subscription, you'll have access to more cloud storage.
2. When you save a file in Adobe Fresco, it appears in your Cloud Documents in ".PSDC" (Photoshop Cloud Document) format. You can open it directly from Photoshop without any kind of exporting necessary.
Here's a screen shot of Photoshop, showing the Home screen (1) and two .psdc files (one created in Fresco, and one created in Photoshop for the iPad) which can be opened easily just by clicking them (2) from the Home screen in Photoshop.