Five weeks of, say, three engineers with $150k salaries ($200k fully loaded) is $60k. People say that the majority of software is after initial development. Let's say 20% is development [0]. That means this project costs $300k total and lives for 5 years before the team decides to rewrite it. That brings us to $60k / year.
This is good savings! My general guidance to folks thinking about this sort of project is that you should implement a vendor and see how you like it. The reason being, MixPanel does a LOT more than this tool, and buying a vendor can help you figure out the subset of features that you actually need. Once you have a clear requirement list, you have a clearly scoped project and can hammer it out relatively easily to get that cost savings.
Beware of thinking that you can do this for $X,000 / year on your own, or get it right on the first shot. There's a reason MixPanel (and any other vendor) has so many engineers. You're paying them to have already made the mistakes that you're about to make.
[0] https://stackoverflow.com/questions/3477706/development-cost...