I still think we need something better than Git, though. It brought some very cool ideas and the inner workings are reasonably understandable, but the UI is atrociously complicated. And yes, dealing with large files is a very sore point.
I'd love to see a second attempt at a distributed version control system.
But I applaud MS's initiative. Git's got a lot of traction and mind share already and they'd probably be heavily criticized if they tried to invent its own thing, even if it was open sourced. Will take a long time to overcome its embrace, extend and extinguish history.