web hosting: should I point my domain to Cloudflare?

I have a couple of simple websites and my configuration has always been like this:

  1. Point my domain registrar to my web host (through name servers)

  2. Direct my web hosting to my email provider (through DNS records)

Recently, I noticed that some people include Cloudflare as an intermediary. So, from my limited understanding, your configuration is then:

  1. Point your domain registrar to Cloudflare (through name servers)

  2. Point Cloudflare to your web and email hosting provider (via DNS records)

What advantages and disadvantages does it entail?

I tried to find it but I searched Google for something like ┬╗Cloudflare between registrar and hosting┬ź It didn't help, unfortunately.

I also visited the Cloudflare website, but there are so many services they offer that I quickly stopped trying to find an answer to this question there.