Earlier quoted context omitted.
Copy on write is a good thing, as is log structure which is even more resilient. However, it is not strictly superior to journaling in terms of data safety. The copied data will get garbage collected or overwritten after some time and regardless might be tricky to recover.
ZFS has journalling too, in the form of the ZFS Intent Log, where writes are placed rapidly as they occur before becoming part of the main filesystem. The effect is similar to a journal in a journalling filesystem [i.e. to allow recovery and consistency of writes in flight in the event of power loss], but the way it is used is different. Unless most journaled filesystems, ZFS: - allows a separate high-performance dev…
In a proper setup (mount options journal=writeback,noatime,relatime, wal configured reasonably wrt max_wal_size/checkpoint_segments) the overhead due to ext4 journaling shouldn't be a major factor. You'll see some overhead initially when the WAL segments are allocated as you go, but after that they'll be recycled.
For OLTP write heavy databases I'd say the intent log is more a liability than an advantage, it's easy to screw over performance and/or storage lifetime with it.