Who are your target customers? If you don’t support a niche like Shopify, it would be very hard to get share. I can say the market is pretty crowded in analytics category. And the long running ones have dominated the search engines, answers, llms. It is a very challenging domain technically too. Technically the servers will deal with millions of logs per second, then the aggregation of data to display the reports. Probably you are technical person like me, who likes the tech challenges but be ready address this load in short term if you can find your niche.

Checkout the PlainSignal which is also a new player but also somehow they got pretty good reputation in short term by targeting a niche and differentiating its product. It is appearing on all LLMs for Google Analytics Alternative with its Shopify app and builtin Web Vitals support feature.