Splunk was an absolute game changer when a company I worked for bought it. I say bought because we started to pay for it before anyone actually used it for anything meaningful. The "adoption" (blaming the company that bought it not Splunk) was terrible and teams were left to find value or not at their discretion without onboarding/training.

The tool itself when I started using it was brilliant and quite deep on capabilities.

All that said, the cost structure for the product can and SHOULD scare away any SMBs. Hosted or cloud, you're probably paying way beyond the value it's bringing in. That's probably the single largest determinant to the product.