export desktop "iMovie project" to iCloud for iPhone to import
Can I export iMac desktop "iMovie project" (not an mp4) to iCloud for iPhone iMovie app to import?
iMac
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No, iMovie projects must reside at all times in an iMovie library. An iMovie library cannot be stored in the cloud. So the procedure you want to do cannot be done.
Aside from that, while iPhone iMovie projects can be imported to Mac iMovie for further editing, one cannot import a Mac iMovie project into iPhone iMovie. This is because iPhone iMovie is a more limited app than Mac iMovie.
As you mention, you can export to the Cloud the Mp4 movie that was shared out from a Mac iMovie project. Then download it onto your iPhone for limited editing with the iPhone iMovie app. (At least, I believe that that can be done.) Or, you could simply use AirDrop to transfer the movie to your iPhone, and then import it into iPhone iMovie as one long clip for editing.
-- Rich