Great logos seem to stand the test of time and do not need frequent replacement, maybe a little polishing.
Simple, clean, memorable, evocative marks work best in the retail universe.
Great designers can bend rules to give a new mark a visceral connection.
A massive budget can make a mark successful by repetition, but it cannot make it loved. (see Pepsi Cola vs Coke Cola)
As a general rule, simple novel designs work best.
A current trend seem to be toward rustic, nostalgic, home-grown, logos that feel "genuine" and "personal,"not a product of digital market research.
That is, it is not from Proctor & Gamble. It comes from the blogging mom down the street.
Similarly, major international brewing corporations are buying up small craft breweries like eating peanuts. They want to be your neighborhood vender of "real".
What is a great logo? It all depends.