When I mentioned de-duping and append-only logs, I had this in mind. It's hard to imagine implementing a backup system with those two properties that don't include snapshotting nearly by design-necessity.
(Beyond even the fact that ~/code is also on a ZFS volume that is snapshotted and replicated off-site, which I argue can be used in all of the same important ways any other "backup" is used.)
Hence the comment! After all this blockchain hoopla and everyone's understanding of how "cool" Git is, we really, really deserve better in our backup tools.