Not anymore than I already do bat an eye at cloudflare.
(It's probably worth noting here specifically that I do work at Google, so my risk profile is probably different than yours, for me personally and speaking solely from a trust perspective, I'd probably prefer it if Google acquired CloudFlare since I would get a net increase in transparency, but I can understand why that isn't a general position, and there are other reasons I don't think Google acquiring cloudflare would be good).
I share these fears to a lesser degree with Microsoft and of course Facebook. Apple seems to do a great job of safeguarding, but they could become sour if they don't remain careful. Stuff like Clearview crosses the line into directly-dangerous. CloudFlare is currently innocent in my eyes, but they've managed to centralize a lot more channels than I'd like to think about.
What they're pushing with Amp and the related technologies grants them a near-unavoidable man-in-the-middle position.
(FWIW I am careful to avoid Google properties at a pretty high cost.)