Regulation could conceivably disallow a single company to control such a significant portion of internet traffic. The parent can be interpreted as lamenting the absence of such regulation.

The only thing more annoying than people chanting "regulation is bad" is people chanting "regulation is good".

What regulation? Be specific.

CloudFlare provides significant utility to me. I chose to use them. Explain why you think someone else needs to butt into this relationship.

It's certainly a huge risk when one company's outage can take down so much of internet. Decentralization and the ability to route around damage was a core feature of the internet. The more we depend on the internet, the less acceptable that loss becomes.