No doubt there is a place (or indeed a need) for debug (or trace) logging in environments where you can’t simply pause execution. However, in development environments you would be foolish not to use the (vastly superior) tooling available. I think many developers shy away from debuggers simply because they haven't taken the time to understand how to use them effectively, whereas everyone knows how to write a log stat…
Until and unless such a thing appears, debug logging is pretty much what I've got.
(And given the complexity of the project in question, and the fact that I'm basically its only developer, debug logging is still pretty vital for running down the bugs the users run into in production. Good thing it's just a free hobby project!)