For more half-baked ideas, see the ideas tag
strace -f a collection of processes you end up with pretty frustrating output that looks like this. It’s almost impossible to keep track without pen and paper and plenty of time.
The half-baked idea is a visualization tool that takes the log file and constructs a picture — changing over time — of what processes are related to what other processes, what binaries they correspond to, what sockets are connected to each process (and connected between processes), what each program wrote to stderr, and so on.
There would be some sort of timeline slider that lets you watch this picture evolving over time, or lets you jump to, say, the place where program X exited with an error.
Make it happen, lazyweb!