In isolation (just our logging product), Loki is comparable. It would be interesting to do a benchmark on Loki and see what a comparison looks like. Beyond logging, we do session replay and error monitoring and tie all of these things together.
I think what matters is the interface. A clean interface to read structured logs in table view than throw raw text at the user like many products do and nice way to filter them.
Loki + Grafana isn't really good for log viewing at all. I use Metabase to read logs sent to ClickHouse which gives far nicer interface.