Just came across this thread, and I could see some value to it.
I'd assume a Raspberry Pi could only receive traps and syslog (and that at very low volume). I'd also assume since RasPi is ARM based, it may need it's own code as a super-light collector.
However, if you could put a Raspberry Pi at a remote site (which has only network gear), receive traps & syslog, then reliably get those events upstream, this could be very valuable.
Whether it be Raspberry Pi or BeagleBone Black, putting a $100 "micro-server/collector" at a site is a much better story than a $1000 server.