tldr; We don't want to be a Datadog level solution forever that keeps the price low(ish) by only supporting light weight events. We also don't want to provide standard SaaS log pricing with one of those slide bars that increases the $$$ as the GB amount goes up until you give up and setup open source.
We want a middle ground that's cheap enough not to worry constantly about log volume, that's incredibly quick so it's nice to use in the app and covers most of the use cases for DevOps troubleshooting. So people can get alerted by time series data and drill down into the context of what happened with log data.
Now is the opportune moment to look at event data while the time series analytics front-end is being finished. Event data is similar to time series data but differs just enough that it requires a different data store and a bunch of additional services.