It has, but it's been very hard to accomplish technically prior to modern LLMs

I agree with this

Is it actually more feasible now? Do LLMs actually make this problem easier to solve?

Because I have a hard time believing they can actually extract time increments and higher-level tasks from log data without a ton of pre/post-processing. But then the problem is just as much work as it was 5 years ago when you might have been using plain old BERT.

In our experience they do! The smarter the LLM, the less pre/post-processing you can get away with and still get a good output. So no, you can't just throw raw log data at it, but it doesn't require nearly as much work as it did 2-3 years ago