Don't metrics have to be defined first? I assumed you'd first do a big data log analysis to understand what is going on and then monitor for metrics learned to be useful. Storing just metrics means it'll be hard to investigate when things go wrong when the currently defined metrics don't capture that new issue.
In big data circles the consensus these days is to store all raw data since storage is cheap. Useful cleaned aggregations and metrics can be extracted later by processing the full history using the now available big data tools.
I suspect this approach is a problem in the traditional software engineering, where focus is not on historical data like it is in data engineering. The solution goes - Splunk is too expensive, let's ditch logs altogether and hope we capture some metrics and plot them in nice dashboards. Instead of dumping the logs highly compressed into cheap s3 and running some Snowflake or Spark on it later. Heck, even dumping the intra-day non historical logs into Kafka or Materialize and extract the same metrics on the fly while preserving all raw data.