I've done small embedded Linux systems and it makes me so happy that there is a (mostly) compatible implementation built into busybox. svlogd's rotation and size capping makes it great when using limited-lifespan nonvolatile storage like eMMC.

I do the same thing, although as "embedded" systems get bigger I've moved some things over to systemd.

It's a little complicated to set up if your root file system is read-only, since runit really wants to write to the disk, and you must set up symlinks pointing to tmpfs.