It seems to me that the absolute number is what's relevant, not how it compares to the total amount of traffic. That's 1.2 million potential data leaks. That's it "out of a bazillion" doesn't change it.
And 1.2 million people dying is nothing compared to the number of people on the earth.
IMO a leak this bad should be enough to sink cloudflare. A provider of SSL was randomly spitting out private data onto public websites. OVER A MILLION TIMES. Entire CA's have been shut down for leaking a couple hundred certificates. This has leaked private data over a million times, cloudflare is a joke