In terms of not requiring that raw data be stored, a typical setup is to keep raw data somewhere cheap (like S3) so that it's there when you need it. But granular data is often overwhelmingly cold and never looked at again so it may not always be necessary to store it all in an interactively queryable datastore.
As I mentioned, PipelineDB certainly doesn't aim to be a monolithic replacement for all adjacent data processing technologies, but there are areas where it can definitely introduce significant efficiency.
You can do anything with PipelineDB that you can do with PostgreSQL 9.4, but with the addition of continuous SQL queries, sliding windows, probabilistic data structures, uniques counting, and stream-table JOINs (what you're looking for here, I believe.)