How big do you think the intersection is of people who can use git and people who want to use Microsoft Word?
Also when collaborating for writing a paper with Word, version control can be a huge help.
As much as I hate having to work in Word for small things that could so easily be a plain-text format, the versioning system within Word isn't exactly the worst thing ever.
Most engineering firms (web dev << the development world) have a need for proper documentation, and LibreOffice generally won't cut it either.
So not so few people :-)
I like the idea, let's see how it plays out.