Correct me if I'm wrong but isn't this just a form of centralised version control? If this is a better approach for many teams, perhaps this an indication that DVCS weren't the silver bullet they were hyped up to be.

Aside from that, in my opinion the whole centralised version control vs. decentralised version control, and all the variants thereof, miss the bigger issue. Keeping track of the history of a file, and the authors of the changes, is trivial for any version control system. The real challenge is in resolving merge conflicts, and it's the low level of sophistication in merge tools that is the real bottleneck here. That's why I think tools like Semantic Merge are far more important to a development workflow than SVN vs Git vs Mercurial. It relies on the merge tool understanding the structure of code rather than treating it as an ordinary text file. Similar tools could be built for any language that offers a 'compiler as a service' (such as RLS for Rust).

https://www.semanticmerge.com/