Splunk bought SignalFX a while ago and they are trying to lean in hard on the observability craze and piggybacking on OpenTelemetry. I wasn't involve heavily in this migrate to Splunk Observability Cloud project about a year ago but it was a shit show and half-baked and ultimately they dumped it in favor of DataDog IIUC (I had since changed jobs but kept in touch with ex-colleagues).