Question> Splunk for general purpose free text searches or structural searches?
Splunk works best with time series data, while your use case might be more similar to master data management that changes often with update operation.
However you can all rows from DB everyday to Splunk using DB Connect Input Type = Batch if you want to, if it doesn't break your daily ingestion limit. With this, you will get all your data into Splunk, updated everyday.
Question> Can Splunk be used as an event stream for that? (event sourcing)
For the event sourcing you've mentioned, try STREAMSTATS command, the result will change as you change the time range of your search
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