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sundiag is a tool that has actually been around for a long time for hardware troubleshooting on Sun systems. In the Exadata context, it's typically used to collect various system diagnostics, including:
/var/log/messages: Linux system log
dmesg: kernel messages
imageinfo: Exadata software versions
lspci: PCI bus hardware
lsscsi: SCSI devices
fdisk: disk partitions
sel-list: sensor event log
megacli64: info about the hardware RAID controller, including LUNs, physical, and virtual disks
With the exception of imageinfo, these are all standard Linux tools, and most Linux system administrators will be familiar with them.
Although sundiag is part of the standard set of output Oracle support asks for, I have rarely seen support actually make recommendations based on the output. So I wouldn't say that the request for sundiag output suggests a specific avenue of analysis.