From my understanding, that's not quite the intent.

Currently, there are a bunch of bots that behave themselves. For example, Google's search crawler.

They identify themselves with a user agent, e.g. GoogleBot, so Cloudflare know what it is and don't block it.

Unfortunately, some bad bots pretend to be GoogleBot by setting the same user agent. To counteract this, Cloudflare compares the known IP address ranges with the traffic to make sure it's actually coming from Google. If it's not coming from a Google IP range but the user agent says it's Googlebot, they block it because it's probably bad.

But knowing which IPs are OK and which aren't is a challenge because they change over time.

So the proposal here, as I understand it, is to create a system whereby by publishing a public key, you can prove that GoogleBot really is from Google, AmazonBot is from Amazon, etc, and not another crawler pretending.

The spammy ones can keep generating new domains and keys, but you know for sure it's not Googlebot or whatever.

So it helps "good" traffic prove who it is, it's not supposed to be for tracking bad traffic.