You are right. They are renting dumb fiber interconnects between their PoPs, their datacenters and to various IXs and then they are asking their customers to re

You are right. They are renting dumb fiber interconnects between their PoPs, their datacenters and to various IXs and then they are asking their customers to rent dumb fiber interconnects from their offices and datacenters to connect with nearest Cloudflare PoPs and then use their proprietary services within that network, usually to reach eyeball networks (the end user ISPs). In this way, they slowly become the largest customer of transit ISPs and become the largest content providers for eyeball-ISPs. Once they get into this dominating position, they can pretty much command those ISPs on price and terms.