If you are talking about Dynatrace Log Analytics, it can support any text file with understandable date/time format. I'm not sure if that matches your definition of raw log, please provide more details if not. You can also download the actual file and look inside using any external text viewer.
Yes, each log line is available for analysis. Windows event logs are also supported, you can find them (System, Security and Application Logs) in host pages. Also IIS logs written to these logs are available from IIS process pages. All logs collected are visible and available for analysis in Log Viewer available from left side menu's "Log files" entry.