The decision to make or buy a counter comes with knowing all the signal integrity issues you have expect for an input signal.
If there is any resonance or spikes during the transition interval, a good counter will have an adjustable gain, AC or DC coupling with a fixed hysteresis and high bandwidth, low noise.
There will be the ease of use for averaging and getting more resolution and less jitter.
This primitive design uses a binary counter to scale the signal down a few decades, which limits the useful range.
But if you have a PC to dedicate for this, it might work, after many hours of frustration for a primitive design.
just nothing comparable to a used $100 counter on EBAY.
**broken link removed**