This is the clause pertinent to us:
End Users:
Cloudflare processes End Users’ information on behalf of our Customers when End Users use our Customers’ domains, websites, APIs, mobile applications, Internet connected devices, and networks.
This information may include but is not limited to IP addresses, system configuration information, and other information about traffic to and from Customers’ websites or networks (collectively, “Log Data”). We collect and use Log Data to operate, maintain, and improve our Services in performance of our obligations under our Customer agreements.
I'm not sure how that differs from the previous policy, if at all. I already expected that Cloudflare was collecting this data.