True enough. Dynamic DNS does this too. Tor does this even better, but needs more adoption.

If we had a similar and cost effective solution, I'd move to it in a heartbeat to help decentralization self hosting a bit.

Dynamic DNS doesn't hide your IP though. It just gives you a hostname where the underlying IP changes but the DNS hostname stays the same. We're essentially using Cloudflare for privacy, but also allowing Cloudflare to see everything 😂 so it's private to the world, but not to Cloudflare are their partners.