What problems does Datadog solve that you can't solve with cheaper solutions?
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I believe a much more useful question to ask is just “is this the highest and best use of my finite attention and time?” It is much easier to find $100,000 a year of budget than it is to find an additional $50,000 worth of skilled[1] developer time.
[1] This skilled part is critical because if you have some flunky create your “SaaS alternative” you are in for an even worse time.