An Azure service that is used to collect, analyze, and act on telemetry data from Azure and on-premises environments.
I am not certain about the performance counter options for the AMA. This is a consumption-prices service. I think most customers are likely only interested in a handful of common counters. It is likely not cost effective to collect a wide range of obscure counters. Maybe someone else can speak to that point.
I believe you are correct on the DCR rules. If you open the XML tab on EventViewer filters you can pull the XPATH directly.
Azure Monitor does not have anything comparable to management packs. The Insights are product or service specific but are dashboard-based. There are no rule packs. You create all of the rules on your own. There are built-in templates for Azure Activity (audit) alerts rules. The platform monitoring "Metrics" are also collected automatically and related alert rules are free. It does have some auto resolution and dynamic threshold options. Azure monitor has better alert response automation options.
Azure Monitor also lacks many of the other tooling features of SCOM like a good ticket management interface, service monitoring, alert suppression, health state, etc. Though workarounds to many of these potential limitations are possible. Azure Monitor simply requires a different approach.
SCOM relies heavily on scripts run on the agent and discovery (to limit where scripts run and to create the classes and relationships that support the health state framework). Azure Monitor does not run local scripts. Scoping is less important since there is no harm in broad targeting. DCR rules can be used to refine scoping if needed. Azure monitor does not rely on a framework or class relationships. It makes for a simpler approach. The workspace is also significantly more accessible than SCOM SQL. Many of the concepts that are central to SCOM just do not apply. You might look for some blogs or other resources to help speed to the rule creation work. It is really comparing apples and oranges.
I expect there could be cloud-native SCOM alternative option available in the future. SCOM remains the best Microsoft solution for monitoring on-premises servers. Azure Monitor can be a decent solution when SCOM is not an option. It just takes a bit of effort.