Any cost effective newrelic alternative?

Take a look at Coroot: https://github.com/coroot/coroot. It supports OpenTelemetry and stores traces in ClickHouse.

Here you can find a demo of the Distributed Tracing UI: https://demo.coroot.com/p/tbuzvelk/traces

Disclaimer: I'm a co-founder

We built KloudMate (https://www.kloudmate.com) to offer users much better value, at a fraction of what New Relic costs. Logs, Metrics, Tracing + a ton of other use-cases.

It's OTel native, so you don't have to be locked-in either.

PS: I'm one of the founders.