> The affected party (in this case Cloudflare) has incentive to handle the situation in a way that's limit the damage to their customers and their customers cus

> The affected party (in this case Cloudflare) has incentive to handle the situation in a way that's limit the damage to their customers and their customers customers (which are the ones affected). Cloudflare has a much stronger incentive to handle the situation in a way that limits the damage to their reputation. As you note, researchers also have an incentive to maximize the benefit to their reputation. But the incentives for P0 are much more closely aligned to the interests of the public here than are the incentives for Cloudflare. The information revealed by the bug is indeed really bad, and there's likely no possible way to tell which of Cloudflare's customers were affected, much less those customers' users. No company wants to acknowledge "yeah, a bunch of our customers' data was compromised, and we have no possible way to tell whether your data was among the data compromised". Their incentives push them to downplay the impact; to accurately describe the potential impact to their customers would probably be disastrous for them as a business. In contrast, downplaying the impact would be contrary to P0's incentive to benefit their own reputation.