Every point the author says is 100% correct. I'll add one more point, which ended up making it a total non-starter: you can't import lots of images because their rate limits are so pernicious. If you have tens of thousands or millions of images, keeping within their single digit per second rate limit, which appears to be totally non-negotiable, makes it impossible to add images at any scale.
They have another product called Cloudflare Images which can work from Workers: but here the pricing is almost absurd and from the data they show on their dashboard, they only cache a tiny percentage of the requests. This means you end up paying a lot more than makes sense.