Discussion in T155967 indicates that in its current state, the titleblacklistlog records whenever someone clicks on a redlink that is subject to the titleblacklist e.g when someone hits https://en.wikipedia.org/w/index.php?title=Draft:Meepsheep&action=edit.
There has been discussion in the above task that logging this kind of not-action isn't useful as we are mainly concerned with actions that result in actual saves (attempts) such as e.g trying to move a page to a vandal title. Plus it is potentially privacy sensitive to record mere clicks like that that don't attempt to save anything. Thus I am spinning this off to its own task.
(Perhaps it could be some kind of configuration setting)