I'm not following the logic of the argument here though, jumping from "X is good for Y" to "...don't actually have huge amount of data", perhaps you can elaborate?
With a merkelized append-only log (immutable DAG), there's always an audit trail. I agree with your point about "mutable look and feel", in a lot of use cases there's only a limited set of "writers" and updates happen infrequently.
Perhaps I should rephrase my previous comment, then, as "immutable systems are good for building mutable systems on top". Does that help to provide a better counter argument?