I concur with you on the resource usage of Gitlab. It's a complex system, and takes up a lot of resources. I haven't been able to get it to run in a stable manner with less than 8GB of RAM on a very moderately used setup.

BUT I very much disagree with your general rejection of it's worth. Yes, the feature set is ballooning, and some of them are very half baked.

But I find tremendous value in a integrated solution that offers code hosting, wikis, issue tracking and a tightly integrated CI without having to jump between 4 different systems.

There are a lot of use cases where Gitlab is overkill, but for others it is a really great solution that even comes for free.

Also, as long as the system has enough resources, I've found it to run very reliably and upgrades are painless. (I also agree though that the backup task is a PITA. Really slow and resource hungry).