It seems like you are right. On the company's pages I find "... Instead of doing this, Cloudflare will make the request from one of their own IP addresses near

It seems like you are right. On the company's pages I find "... Instead of doing this, Cloudflare will make the request from one of their own IP addresses near the user. This provides geolocation without tying it to a particular user. ". Still, my concern is that this is no longer a function of the technology, but by a service that is maintained by one company, limited to the coverage that they provide in different parts of the world.