I wasn't aware there were several startups every few months in logging. For us, it was an interesting space. Lots of changes happening.
Yes you are somewhat right. It is sending text to a server. But then you send more text and more text and you need to search for all this text in a split second. If you've ever run your own ELK stack for example, you'll realize quickly that you're spending most of your time scaling elastic search to handle the data volume. There is a challenge to doing that.