Yet, the same Cloudflare wants to control entire internet traffic single-handedly.

The Internet was not created for this.

One could argue that 'but they are very good at preventing DDoS attacks' — yes they are; however, they have always loved control and kept their technology proprietary to lock their customers into their systems. And one day, a single line of code disrupted many services on the web.

Centralization and monopolies are much bigger threats to the future of the internet, IMHO. (Which always follows the same pattern: give your customers free or unbelievably cheaper services, even at a loss, lock them in, then jack up the price.)