XetHub Co-founder here. Yes, we use the same Git extension mechanism as Git LFS (clean/smudge filters) and we store pointer files in the git repository. Unlike Git LFS we do block-level deduplication (Git LFS does file-level deduplication) and this can result in a significant savings in storage and bandwidth.

As an example, a Unity game repo reduced in size by 41% using our block-level deduplication vs Git LFS. Raw repo was 48.9GB, Git LFS was 48.2GB, and with XetHub was 28.7GB.

Why do you think using a Git-based solution is a hack compared to p4? What part of the p4 workflow feels more natural to you?