Can someone please explain this to me? There's been a lot of chitchat about cloudflare in this sub recently, but I just don't understand it.

I currently use a DDNS and reverse proxy to access a couple of my personal self-hosted services (when I'm accessing them from devices don't support VPN). How would a cloudflare tunnel be superior to this setup?

Also, do I need to purchase a domain name to use cloudflare tunnels? Many thanks from a confused n00b.