Starting with google: AMP does not actually make loading any faster. Google just uses it's search monopoly to make it seem so. When you use google search with javascript enabled AMP results are both prioritized in the listing and pre-loaded in the background. This makes up the entire increase in load time you perceive. AMP pages not pre-loaded by google are just as slow to load.
At Cloudflare there are other problems. If you're a CF customer and have the option enabled, your AMP page hosted on CF servers will do some nasty stuff. Specifically outgoing links to third party domains will be mirrored onto cloudflare's servers and re-hosted. Presented to anyone clicking off your CF AMP page as the actual site but not. Instead CF gets the hits and you never see it. I've seen the CF bots doing this to my domain. But CF never responds to emails from anyone that isn't a customer.
As for AMP for email I don't know the specific downsides besides the obvious corporate centralization and control this gives. But it certainly doesn't have any purpose. And I say this as a guy that only reads email as text and never renders HTML.