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Furthermore, communicate why the function is disabled. Nothing is more frustrating than knowing a function existents but not knowing the conditions required to enable it.

Yep, that's ideal. Sometimes, though, this can be hard to convey efficiently when there are multiple conditions. ToolTips can help.

Even better, don’t gray it out, allow people to prematurely click, and if they do, guide them to the precondition with a focus and a message about what must be done.

It depends on whether they can affect the condition that would enable it imo.

Disagreed. As a newcomer to Grafana, some features were hidden because of privileges and I was super confused about how to do them. Being disabled with a tooltip saying 'Not available for your user. Contact your administrator.' would have massively helped me rather than going on a wild goose chase.

That's a pretty good counterexample, and probably the more common one. But what if your company only paid for a tiny subset of the product? Would you want to see everything that's unavailable along with a tooltip even if it really detracts from the user experience of the features you did pay for?