You seem to mis-understand how cloudflare works. They allow an insecure host to pose as a secure one and the traffic between cloudflare and the insecure host is not encrypted.
That problem would not exist on 'any 3rd party host'.
CF is the same as any other CDN with TLS termination. Every host that provides a load balancer, or a server, or some other internal network connection like a VPN, can be compromised. Cloudflare is nothing special in this regard.
That problem would not exist on 'any 3rd party host'.