We run with Debug logging on in prod for that reason too. We also ingest insane amounts of data but it does seem to be worth it for a sufficiently complex and important enough system to really have it all.
You should have an answer, right? Like, in your case, you run a lot of logging, and you know why. So if it's off, you say "because it would cost X/million dollars a year and we decided not to do it."
Course, if you're the one who set it up, you should have the receipts on when that decision was made. This can be tricky sometimes because a lot of software dev ICs are strangely insulated from direct budgets, but if you're presented with an option that would be helpful but would cost a ton of money, it's generally a good thing to at least quickly run by someone higher up to confirm the desired direction.