Hi Tiago, excellent article. With your permission, I will point other folks to it as I get the same questions quite a bit.
My approach to this is a bit different. I say Observability is still monitoring. We were evaluating the system's state from metrics and logs before that we do not discount nowadays. However, as you rightfully mentioned, the architecture has evolved and it is very challenging to locate the right logs in the new managed distributed architectures. That is why previous methods need to improve to support new architectures.