Nice example, but a major pain point I see is dev time. There is going to be significant amount of time being spent making the analytics platform, and then scaling it. It might be better spent on the product itself until it takes off.
It literally took is 1.5 days to get this whole thing up and running, and saved countless amount of time in the future trying to analyze the usage.
I've created a similar application - one with integrated cohort analysis, a full working definition dictionary for all events, and a reporting dashboard that allows account managers access to data for their clients on a daily basis. The idea is that dev + product + account mgmnt work on the same platform.
I built it myself in my spare time over the course of about 4-5 weekends. When data is fully integrated and accessible it makes it worth the investment.