Referred to in T123243 and T211700 there has been talk for some time of looking into https://github.com/Yelp/elastalert (or alternatives?) for alerting and correlation of logs (mentioned in the logging design doc as well). One of the ideas here is that this replaces the work done in T208611 (which will make @Volans very happy)
I'm going to try to workshop this out a bit in the logging cloud project and then possibly move demo functionality to deployment-prep depending on how things go.