I've written about the issues with CF Images before[0], and a lot of these issues still remain. A while back they joined their two image resizing products together though, and now CF Images is basically a hosted version of the previously named "Image Resizing", but weirdly (though for some use-cases great) priced, and you can bring your own storage if you so like.
In my opinion, CF Images is best if you use it with a Worker in front and R2 as storage, as you have (most) all the convenience of R2, the CDN, and CF Images, but without the unusual pricing.
Perhaps it's time I did a write-up on how to do this - it works very well for the purposes of our SaaS[1] at least :)
[0] https://news.ycombinator.com/item?id=29474743
[1] https://instorier.com/