Phillip was dead on when he said log analysis is only of interest to marketing people. Writing tools for marketing people that are not hard or interesting problems to solve is something open source is bad at doing. The person that can scratch isn't the one who itches.
I won't say this is a completely uninteresting problem, my bread and butter is web analytics (written in python). It is sometimes interesting, using standard x86 boxes to handle hundreds of thousands of hits a day each and report on the information in real time has some challenges. But I certainly wouldn't be doing it as a hobby.
Additionally picking the right metrics to use and presenting them in an understandable way needs at least one statistics guy and one UI guy. Open Source apps have trouble with consistancy here, you either end up with a mountain of uselessly specific reports or a few generic ones.