It's clearly not. And it's not Cloudflare's job to be playing morality police when the content is legal in its state of operation, and legal in the state of the owner. I will not be using Cloudflare in the future.
Loli porn is disgusting and the people who view it are unequivocally pedophiles, but this is not that. It's weird, but it shouldn't be in the realm of such a takedown.