Well, given that it's basically a text file, and also given that the size of a starship's databanks are practically infinite, why not?
Even if it is a simple text file in a database of near infinite capacity, why would anyone think a log entry on stardate 9521 about the Excelsior undergoing minor repairs is significant enough to remember? Does Starfleet actually load up the databases on each ship with every trivial log entry?
Must have sucked for the Equinox, I imagine due to damage they were cut off from their database. They wouldn't be able to read about that time Captain Harriman ordered a fresh coat of paint on the doors to crew quarters on deck 6 on the Enterprise B. No wonder they felt they had to slaughter those aliens.
Well, as I said, it wouldn't take up much room in the computers. And given that the smallest detail could become important, isn't it a good idea to have it? It's not like they are having to pick and choose due to limited space. And besides, the situations that other starships have found themselves in relates directly to the mission of any other starship, after all.
It is rather silly that every little detail about starship life is being preserved for future generations to read. And I'd be making this complaint even if it were a ship in the Alpha Quadrant checking up this detail on Memory Alpha over the space internet. Really, how far do we take this? Did Ben Maxwell read over the maintenance floor logs of the Kelvin's janitor detailing what times each day he mopped the decks, scrubbed the toilets and washed the windows to gain the inspiration he needed to attack the Cardassians? Did Riker review the shipping invoices of every food, drink, spice, ingredient NX-01's chef brought aboard while trying to decide what to do about Admiral Pressman? Do Starfleet cadets have to review the files related to Robert April's soap shortage and determine how they would deal with this, both from the perspective of being the captain and being one of the crew?