This makes no sense. TLS termination should be done locally at the site, not at some random server on another end of the internet. It doesn't make any website safer, it is literally a man-in-the-middle.
Also, and not that a bit of competition is bad, but doesn't Cloudflare already provide this service?
Yes, you are right, but that's not their only service and they are CDN first, that is just another service. Also a big difference is that you can install a cert on your server, so the traffic between you and them will be encrypted too. They can still man-in-the-middle you though, but they seem more transparent and security conscious than a one-guy shop.