As far as I can tell our logging contexts are meant to log the request ID, or sometimes the request ID followed by a suffix (this is generally stored in the name field of LoggingContext). There's also code to log the name@memory location, but I'm not sure this is ever used.
This simplifies the code paths to require every logging context to have a name and use that in logging. For sub-contexts (created via nested_logging_contexts, defer_to_threadpool, Measure) we use the current context's str (which becomes their name or the string "sentinel") and then potentially modify that (e.g. add a suffix).