It makes sense to keep a high fidelity history of what happened and why. However, I think the issue is more that this data is not refined correctly.

Even when it comes to logging in the first place, I have rarely seen developers do it well, instead logging things that make no sense just because it was convenient during development.

But that touches on something else. If your logs are important data, maybe logging is the wrong way to go about it. Instead think about how to clean, refine and persist the data you need like your other application data.

I see log and trace collecting in this way almost as a legacy compatibility thing, analog to how kubernetes and containerization allows you to wrap up any old legacy application process into a uniform format, just collecting all logs and traces is backwards compatible with every application. But in order to not be wasteful and only keep what is valuable, a significant effort would be required afterwards. Well, storage and memory happen to be cheap enough to never have to care about that.