"Eating AWS's lunch" seems quite speculative. R2 is a blog post. S3 is the industry standard to the extent that everyone else creates products based on a subset of the S3 API. S3 is also a cornerstone of the AWS ecosystems which has enormous gravitational pull.

Cloudfare is an exciting company with a lot of great products. But they're less than 1% the size of AWS or Azure. Let's see what happens.