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InfluxDB
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I will also push back on other commentors here saying Rust is not good for web apps and APIs, and I have found that to be the opposite of true. I read Zero To Production In Rust (a great book by the way, all about creating a web API with actix-web and Postgres) and deployed an API that has not gone down a single time since deploying near the beginning of this year. It's as ergonomic as (and sometimes even more so than) any NodeJS or Go API I've made (as even though Rust doesn't have function overloading, actix-web and others have some macro magic they do behind the scenes to make it appear as if it does), and there were very few times I had to contend with the borrow checker. If there had been and if I were really going for speed, I would also have cloned everywhere that was needed.
Other than that, tracing is just like any other event logging system suitable for a production app: you get your application to ship your logs off somewhere else for analysis. So to get the most out of it you should use tracing with an outboard analysis tool that can show you these spans. Tracing's readme has a list of plugins for this stuff but some examples:
The tokio-console CLI is a fun one. The console-subscriber supports shipping to a console server running elsewhere, apparently. That gives you a window into what's happening now.
That's a bit of an over-generalization. Ref counting has seen a re-surge lately, especially in FP languages like Roc, Koka, Lean 4 etc. Properly implemented it can compete with tracing GC's performance wise, and offer advantages like deterministic performance and resource de-allocation, no stop the world pauses, pure in-place mutation and seamless integration with C libraries (something Java is still struggling with).