As far as I understand, my Google Cloud Functions are globally accessible. If I want to control access to them, I need to implement authorization as a part of the function i
I have been asking myself the same question recently and stumbled upon this information. To shortly answer your question: Google does still not auto-protect your GCF from massive DDOS-attacks, hence: unless the Google infrastructure crashes from the attack attempts, you will have to pay for all traffic and computing time caused by the attack.
There is certain mechanisms, that you should take a closer look at as I am not sure, whether each of them also applies to GCF:
UPDATE JULY 2020: There seems to be a dedicated Google service addressing this issue, which is called Google Cloud Armor (Link to Google) as pointed out by morozko.