Does it drop messages in this situation? Is that why you warn that "liblogfaf should not be used in an environment where reliable log message delivery is required."? That is probably the most elegant solution.
Thus you lose log messages.
It does not, however, affect the application that is sending the log messages because sending the UDP packet is always possible (minus other kernel issues).
Depending on your use-case you might want not start dropping log messages when the load is high enough for a log processor to not be able to process them. My reasoning: At that point, something is seriously wrong and according to Murphy, the message that's going to be dropped is the one that contains the actual reason for the issue amidst all the other log spam caused by the real issue.