Depends on the definition of wrong! CloudFlare is a bit of an HN darling thanks to their employees' active contributions and submitting every technical post on their blog. Free distributed DNS and potential DDoS protection is also a tempting offer.
To privacy-conscious users: CloudFlare is the man-in-the-middle for more and more of the Internet, potentially tracking at Google-like levels.
CloudFlare may: ... Add script to your pages to, for example, add services, Apps, or perform additional performance tracking. (Unfortunately this is opt-out rather than opt-in.)
https://www.cloudflare.com/terms
To Tor users: CloudFlare implements a captcha to protect servers from malicious traffic; the implementation has caused tremendous annoyance in the past and the company may have been slow to address this problem.
https://news.ycombinator.com/item?id=7977780 (example complaint, 3 years ago)
https://news.ycombinator.com/item?id=11388560 (9 months ago, from cloudflare)
https://news.ycombinator.com/item?id=11404770 (the tor project response)
https://news.ycombinator.com/item?id=12122268 (6 months ago, additional discussion of tor vs. captcha)
To DDoS victims: CloudFlare protects several DDoS vendors while gaining business protecting DDoS victims, citing free speech.
https://krebsonsecurity.com/2016/10/spreading-the-ddos-disea...
https://news.ycombinator.com/item?id=7242377
To CloudFlare customers: CloudFlare has a "target on its back" and has faltered against DDoS in the past, causing outages for all of its customers. AFAIK: It's been a while.
To CloudFlare freeloaders like me: CloudFlare doesn't have much incenctive to protect its free-tier users from DDoS.
Related: Akami stopped helping DDoS'd pro-bono client Brian Krebs. https://news.ycombinator.com/item?id=12561928