The crucial part about tags vs labels is: Tags are predefined. Labels are freeform.
This makes a huge difference when many people from different teams are working with a system.
Also in views, if service tags would be implemented the same way as host tags, the view would only show the selected tags. When using labels, every label is displayed, which is unusable when a service has many labels
Also searching labels sometimes takes very long. But this could also be specific to our setup.
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