Absolutely, this is a key reason why I strongly believe what goes in the log matters. If the log is a list of commands, then you have two representations to contend with: the differential/patch form and then the aggregated state.
An area that I'm playing around with is a log reducer which transforms a region within a log into a single item. For instance, if the log entries are just JSON (without arrays) then json merge (RFC 7396) is an example reducer. See http://www.adama-lang.org/blog/json-on-the-brain for more detail.
