I am a user of graphene os and kde connect. According to their wiki, they need that permission to be granted so that clipboard could be automatically send to my linux pc. According to their wiki, this permission is needed for them to read the log of their own app. [Reference: https://userbase.kde.org/KDEConnect] I have been able to grant such permission through the use of adb. However, such way of granting a permission doesn't persist after a reboot, which is a pain since graphene os always updates, and it reqiures a reboot after installing updates.
In my opinion, the act of an application reading its own log is not detrimental to the system security, and the decision of allowing it or not is up to the user if its based on the use of permission system.
Secondly, the permission could be set to deny by-default, and require the user to enable in the settings, or maybe even require developer mode to be enabled in order to be able to grant such permissions. Should the permission be some "advanced" settings in your opinion, hiding it under developer settings could prevent new users from accidentally granting such permissions.
Finally, I think that adding this permission pose little security impact on the whole system, as apps are only getting notified that "they are not allowed to do xxx". However, this could open up the phone to a open-source android ecosystem, which I found very useful.