Yes, the internet is much bigger than it was in 2003, and it needs more complex protective tools. The fact that you haven't noticed cloudflare when it is working is a sign that it is, well, working.
And the fact that your favorite sites aren't down more often is yet another sign. Downtime due to DDOS attacks alone would be so much greater without cloudflare than downtime due to cloudflare currently is. Your perspective is a pure lack of knowledge and an excess of confirmation bias.