So it's more like git in practice than git in principle, I guess.

I am not sure it is much of an issue to implement a centralised system to solve domain-specific problems that are caused by or are in the context of inevitable centralisation.

I can see a bunch of media companies liking this, maybe even small design shops. Quite a lot of CMS and change control work for media is not much more than asset management; version control is often a bit of an afterthought.

Web interfaces to this might end up interesting for non-profits and charities with significant media outreach.

Clearly this works for Epic Games internally, so it's not an issue. A top-level comment also makes the more appropriate comparison to Perforce.