I have much more confidence in companies that follow the law than those that arbitrarily pull the rug from underneath me for what they perceive is morally "right". I will not trust cloudflare if it turns into another Github.
They market themselves as a sort of savior of the internet, enforcing very tight control of what comes into their systems to protect their customers (c.f. the recent discussion about tor users), while at the same time they have an extremely permissive attitude for anything happening on their own networks.
The more specific problem with them is, that they aren't actually the hosters for the content that they serve, but just provide DNS service and Rproxy service for their customers.
This means, they also become a reverse-proxy for abuse complaints made to the backend hosters, which is where the real trouble lies.
The problem isn't really that CloudFlare decides or doesn't decide what should stay online, it's that they are preventing communication with the hosters in the first place.