I wish this wasn't the case, but all the time I spent on Honeycomb and various other OpenTelemetry packages simply can't get it done. Automated APM platforms are simply that much better.
Those factors make running them well both harder and more expensive than running any ol system.
Currently in the later stages of a Datadog project. Which of course means we are working to get the cost down a little. Modern apps product a lot of logs, traces and metrics.
SaaS solutions for monitoring are usually great except for the cost. You can build (I'd advise going with the Grafana stack) but I'd only go down that route if SaaS was way too expensive.
Monitoring always takes a long time to setup whatever you do. Manually setting up every app, team, server just takes ages.
The institutional knowledge around your data never develops because the engineer whose job it is to manage datadog and observability never gets the opportunity to learn or demonstrate technical depth, and so jumps ship to another team or company literally as soon as possible.
SRE recruiters make this worse, making point after point of gaslighting new hires.
I don't believe the same is true today but in the past we did exactly this because we were spending a bunch of time banging our collective heads against some RDS idiosyncrasies and it turned out running our own Postgres was a breeze.
Plenty of things can and should just simply be bought. It's not always so cut and dry, though.
Do we spend two engineers to build a system or buy a system (and spend two engineers integrating and maintaining it)? I've seen this happen more times than I can count.