Your confusion was totally understandable. I'm a WordCamp organizer, and I'm super confused! I see that there's an attempt to create a differentiation between WordCamp Central and the WordPress Foundation, but from a practical, organizational point of view, they really seem to be one and the same. I actually don't know where the divide is. The Foundation sets rules that WC Central must implement, but then the Foundation isn't responsible for these rules and dissatisfaction it may cause organizers? And aren't they pretty much the same people working in both bodies, one day representing Central, the next the Foundation? And don't WordCamps going through Central need the Foundation to be involved in all the financial aspects?

In short, still confused.