[chelmzy]

He's talking out of his ass. But newish competitors are Devo/Sumo Logic.

[phyzome]

Not sure how well "new" fits Sumo Logic. I was using them ten years ago, I think?

[sbuk]

Humio is also promising, however they've been acquired by CrowdStrike, who aren't know for low prices!

[TheIronMark]

SumoLogic is also not cheap.