They bought Sumo Logic, which is adjacent, a few months back, and I wonder if they plan to combine them to create a broader platform. (Ex-Sumo Logic dev here...)
I doubt it. Observability products, for better or for worse, are really good NRR machines. Everyone has a budget for these tools and as they add more services and data, that budget typically goes up. It's smart money if you're in the "slash and squeeze" business like PE firms are.