InfluxDB 3.0 has overcome several challenges, including the cardinality problem, by separating compute and storage, using a columnar database architecture, Apache Arrow as its data representation layer, and Apache Parquet for data persistence, resulting in improved performance, efficiency, and cost savings, with features such as high throughput ingestion, compressed storage, fast querying capabilities through Apache DataFusion, and native integration with popular tools like Grafana and Tableau.