They already did and they had Worker AI for quite a while [0]. But I think it didn't catch up and they have there very old models.

Overall I think it's a good acquisition for both of them. Replicate would have to have more competitive pricing to compete with fal.ai

[0] https://developers.cloudflare.com/workers-ai/models/

Is this the platform they are offering on Openrouter?

https://openrouter.ai/provider/cloudflare

not sure but that's quite possible. I haven't used cloudflare workers ai myself because they had quite limited number of models and choices so far.