It depends. Some cases like auditing require full fidelity. Others don’t. Plus, if you’re offering a logging service to a customer, the customer’s expectation is that once successfully ingested, your service doesn’t drop logs. If you’re violating that expectation, this needs to be clearly communicated to and assented by the customer.

The right way to think about logs, IMO, is less like diagnostic information and more like business records. If you change the framing of the problem, you might solve it in different way.