Loki aims to address some of the shortcomings found in Elasticsearch. The focus area for Loki is horizontal scalability and high availability. It’s built from the ground up as a cloud-native solution.
The design choices for Loki are inspired by both Prometheus and Grafana. This shouldn't be a surprise since it is developed by the team responsible for Grafana.
While Loki should be a stable solution, it is not as popular as Elasticsearch, which means some integrations might be missing and the documentation and community support won't be on the same level as for Elasticsearch. Both Fluentd and Vector have plugins that support Loki for log aggregation.