It eliminates the risk that the key will be stolen from Cloudflare and used by the Bad Guys to set up a fake website to steal everyone's credentials.
You might not perceive how big the benefit of this is but you're not the target market. I used to handle the SSL encryption keys (and server security) for the online trading systems of a global investment bank. In my opinion, not having to hand over the SSL keys removes a significant obstacle to banks using Cloudflare's services.
Yes, Cloudflare will still be able to read and, in theory alter, the data flowing between the end-user and the client (I would not be surprised if a future enhancement to this mechanism enabled some kind of hashing/signing of the HTTP requests/responses, such that any attempt by Cloudflare to alter the content would be obvious) but that is an entirely different risk than the risk of your SSL keys being stolen.