If you control the cache layer, log it there. If you don't control the cache layer, does a read from the end user cache really count as a separate visit anyway?

There are plenty of situations where someone visiting a page once and someone repeatedly looking at that page over a period of days (even if it is pulled from their browser cache) is an important difference. Obviously it depends on what you're using the data to try to understand.

This is how you end up with no-cache assets on pages so they can keep track of actual traffic.