If you're considering switching, you can definitely spend less by embracing OpenTelemetry. The right solution will depend on how much technical lifting you want to do/how much control you need. SigNoz does metrics, logs, and distributed traces; and has both a self-hosted open source OpenTelemetry backend and dashboard, and a new cloud offering.

There's also Honeycomb if you're more focused on tracing, and Prometheus/Grafana if metrics are what you care about most.