With observability is not the volume of data, time and bandwidth used on it, is being able to understand your system and properly diagnose and solve problems when they happen. Can you do that with less? For the next problem that you don't know yet? If you can't because of lack of information or information you didn't collect, then spending so much may be was not enough.
Of course that there are more efficient (towards the end result) ways to do it than others. But having the needed information available, even if it is never used, is the real goal here.