I use BackInTime, which works in a similar way but is much more configurable. I have hourly backups of all my code for the past day, then a single daily for the past week, etc.
Saved my ass a few times.
Saved my ass a few times.
On top of that BiT supports network backups and multiple profiles. I'm using it on my desktop systems with multiple profiles for years and it's very reliable.
However it's a GUI first application, so for server applications Borg is a much better choice.