Conceptually they are very similar, in the same way that metric data and log data are also very similar. But we don't have good technological solutions to support muxing all streams of observability data together and dealing with them efficiently, either in transport or in storage/query.

Good program architecture in 2018 demands some degree of compromise. In my experience it's best to separate console logging (as in this article) from structured logging, from metrics, from distributed tracing, from exception tracking.

Exactly. As a subset of monitoring, it can probably be thought of as eventing; like all monitoring. What's a metric? A measurement event. Etc.

Perhaps a name change is in order; Event Tracing for Windows anyone? Eventing.. Event Tracing. IDK.