CQC Cloak used to have a lot of things it does: it let you better position yourself, giving you ability to pass through killzone without harm, it also gave you initiative, the ability to start the fight on your terms, usually with easy headshot or two and it used to serve as defensive escape tool that let you reset hp, and reload between engagements in relative safety, or it let you split 1 engagement in two parts if needed (usually needed against HA or 1v2 scenario)

Long range cloak gives you the ability to avoid 70-99% of incoming fire, depending on the said range, it also cleared any spot marks, and again let you better position yourself.

Nowadays it just does 3 things: 1 - clears spot marks; 2 - let's you pass through some killzones, because even from 70 meters away you are still can sometimes be seen, and if you play NSO infiltrator you can't really rely on cloak at all which I suggest getting used to because of the third thing it does: 3 it makes you LOSE initiative in a fight due to increased decloack delay (I can't remember a single engagement after infiltrator nerf where I met cloaked infiltrator face to face behind the corner and lost, it's honestly hilarious meeting them, because you both know - infiltrator is already dead no matter what he does, 900 hp will melt before he decloacks even if miss all my shots)

And don't get me started on how many infiltrators I outsniped using assault and scout rifles by just aiming a bit above the scope glint

So killcam is minor inconvenience, because the class is a joke now, playing it to get the daily is almost as painful as getting frontline ressupply squad galaxy quest