Obviously, the intention is to get there. It's still an alpha, and it's not ready to be trusted for real yet. (And that's OK.) There are a lot of features yet to be written.
With that said, it does do the basics well: save/checkpoint/commit/promote/tag, diff, status, rebase, list refs, ls for local version, ls for server version(s), etc. And it's fast. Still much more to do.
Funny story: At the beginning I was using both Git and Grace at the same time (a .git directory next to a .grace directory to drive them) on the source code. Then I worked on auto-rebase, and had a bug that deleted some of my source files . I was able to revert from Git, of course, but after that I decided to do my testing in other directories.