My understanding is it's basically kernel messages that are being logged to the eMMC. Those could be useful during development, but probably not so much in a production vehicle. It's not the "black box" type data that being logged there (or if it is, it's not that much compared to the kernel logging).
I’m pretty sure every airplane black box has every log entry of every computer in the plane. The thing is, you never have too much data when you analyze these things. Cause and effect chains can be long and surprising.