No, this SLA is a legal commitment to give you credits when Service uptime falls below a certain threshold. The threshold could be anything - 99%, 50%, 100%, etc. Importantly, Cloudflare is not under a legal obligation to provide the Service at or above the agreed threshold, it's under a legal obligation to give you Credits when the Service uptime is below that threshold.

"Service Credits are Customer’s sole and exclusive remedy for any violation of this SLA."