Regulation could conceivably disallow a single company to control such a significant portion of internet traffic. The parent can be interpreted as lamenting the absence of such regulation.
It's certainly a huge risk when one company's outage can take down so much of internet. Decentralization and the ability to route around damage was a core feature of the internet. The more we depend on the internet, the less acceptable that loss becomes.
What regulation? Be specific.
CloudFlare provides significant utility to me. I chose to use them. Explain why you think someone else needs to butt into this relationship.