Hi Rao.
Thanks for your message. There is no need to worry - even if I understand the questions you have. Let me quickly go over them.
We don’t have a requirement to use any of the Camunda 8 new features- like scalability, high availability etc etc.
C8 is not only about adding scalability and resilience. C8 also fixes a lot of architectural challenges around isolation, allows a SaaS model, eases adoption across the enterprise and of course we are also adding new features in there. So even if the day is not yet today, I think there will be a point in time in the future when you actually WANT to migrate 
Migrating applications from Camunda 7 seems like quite a lot of work, it’s like completely redesigning the applications.
Migration is not a drop-in replacement, yes, but at the same time it also does not have to be a huge effort. It depends a little bit on your current architecture. Maybe by using adapter classes you don’t have to adjust code at all. We are investing into migration tooling at the moment (see e.g. GitHub - camunda-community-hub/camunda-7-to-8-migration: A collection of tools to support migration from Camunda Platform 7 to Camunda Platform 8). We are relatively late with it - as we love doing things together with real users to gain real-life feedback from day one. Expect this to evolve. Same for our migration guide (Pre-migration details | Camunda 8 Docs)
Can we use Camunda 8 community edition in production with all the components?
You can use the source-available distribution for free in production (see How Open is Camunda Platform 8? | Camunda). The biggest change is Operate (Cockpit in C7). C7 had a hybrid model with some components being available, some not. C8 has a different model, with all components being available for dev, but not for prod. We find this a better solution for everybody involved (also CE users - happy to elaborate if needed). If you are interested about an enterprise license, please reach out: Contact Us | Camunda.
Please note, that with C8, you can also use a SaaS model, which might also be interesting to explore. Depending on your load, the professional pricing might even be cheaper for you than a C7 EE license: Camunda Pricing | Camunda. We also work on a free tier in SaaS, but are not there yet.
Can we keep our existing applications on C7, for ever or we may have to migrate eventually at some point ?
Of course, you can keep your existing apps on C7, even forever if you want. There is no license that does hinder you doing this. Also I personally would expect, that we provide basic maintenance (e.g. not all databases and app servers) for quite a long time - even if we guarantee “only” 5 years (but also provide longer term support contracts to EE customers). And I would further expect a lot of help in the community around it - as there is a huge crowd of happy Camunda users. Just note, that “forever” is quite a long time
Looking at innovation cycles in IT, I already find 5 years a long time frame - but of course that always depends on what you do…
Camunda is open source. I hope its licence allows to fork it.
It is Apache license, which does allow to fork Camunda, yes. I just don’t see how this would help. You need to invest effort into maintenance - this effort is either payed by us or contributed from the community. That will not change, even if at some point in the future we will reduce our own developers headcount on C7 (which we actually don’t do today). So I expect the C7 community still being a lovely place for C7 users.
And as I said above, we are working towards better features and a more seamless migration experience anyway - so I would users LIKE to migrate at some point in time anyway.
Besides, you could change to flowable. It’s a sibling project to Camunda so the migration cost would be probably lower than switching to Camunda 8 which is a completely different system.
I personally doubt that this will be less effort, especially given our own investment in migration. But happy to be challenged of course. But I prefer to discuss this 1:1 - as I am generally try to avoid speaking bad of our friends at competition 
Hope this helps a bit?
My bottom line would be: Why not stay with C7 for another one or two years and look into this topic again then?
Best
Bernd