I can easily conceive the danger. But I can directly observe the danger that's causing traffic to be so centralized - if you don't have one of those providers on your side, any adversary with a couple hundred dollars to burn can take down your website on demand. That seems like a bigger practical problem for the open web, and I don't know what the alternative solution would be. How can I know, without incurring any nontrivial computation cost, that a weird-looking request coming from a weird browser I don't recognize is not a botnet trying to DDOS me?
Exactly. If you're going to bemoan centralization, which is fine, you also need to address the reason why we're going in that direction. And that's probably going to involve rethinking the naive foundational aspects of the internet.
You deploy complex proprietary heuristics to identify whether incoming requests look more like an attack or more like something a user would legitimately send. If you find a new heuristic and try to deploy it, you'll immediately notice if it throws a bunch of false positives for Chrome, but you might not notice so quickly for Pale Moon or other non-mainstream browsers.
(And if I were doing this on my own, rather than trusting Cloudflare to do it, I would almost surely decide that I don't care enough about Pale Moon users to fix an otherwise good rule that's blocking them as a side effect.)