It does but there are caveats.
- MP4s will be cached by CloudFlare if the file size has to be under some threshold.
- Safari has a problem playing MP4s served by CloudFlare - sometimes. As far as I can tell, it has to do with the origin server if it’s Unix.
I’m loading various versions of the same video through media queries. From 396KB to 7MB. They all work fine and are served cached from the edge. The origin is a Windows server.