I'd much rather they simply blessed one of the existing solutions (greylog2, fluent, loads of others) and created a compatible minimal daemon which can be included by default in a distribution. Currently they're neither providing new good solution, nor solving the structured log problem (flat k/v? why not just go json/bson?). They're also trying to solve single-host security, which seems pretty close to impossible without moving logging into something like TPM - just send the logs outside, so that the logging channel is append only.
There is also one point which makes me really worried about what the hell are they thinking... "The timestamps generally do not carry timezone information, even though some newer specifications define support for it." Simple solution is to log in UTC, always, everywhere. Run your servers in UTC too - unless it's your local desktop, there's no reason not to.