A site using Flexible SSL is no less secure than one using http://, and in fact is more secure, because nobody can MitM the connection between CloudFlare and the end user. The only thing vulnerable is the connection between the website and CloudFlare (~~and only to MitM, not to passive sniffing~~ EDIT: this isn't true, see [1]), but that's a much smaller and much better-protected surface area.
Now it's quite obvious that the alternative SSL options are much better because they secure the data properly the whole way. But claiming that Flexible SSL is somehow undermining the security of the web is extremely hyperbolic.
[1]: The connection between the origin server and CloudFlare can in fact be passively sniffed. I thought Flexible SSL was the option to use an arbitrary self-signed cert, but it actually means no encryption.