Blockchains are way worse than that. I think PoW cryptocurrencies are way past any benefit of the doubt, are actively harmful on a large scale, and any promotion of them is shameful. Cloudflare crossed the line here.
For Cloudflare this may be just yet another marketing and SEO piece, but it is giving legitimacy of a large tech company to the blockchain nonsense. People researching the buzzwords are going to see that a successful company powering a big chunk of the actual Web says "Web3" and NFTs are legitimate. This blog post is going to end up in a thousand pitch decks for more buzzword-salad ponzi-scheme tokens, and drive even more coal-purchasing fiat money into the massive waste of energy and silicon.
The future of the Web may very well be in p2p and content-addressable protocols, and Cloudflare is likely to be exploring it, but it's absolutely irresponsible to even suggest PoW blockchains to be any part of it.