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The first version is for macOS, which has snapshots [1] and file versioning [2] built-in.

Are average users likely to be using these features? Most devs at my company don’t even have Time Machine backups

snapshots are local Time Machine backups for a few hours which don't need external hard drives and are configured by default I think

RSX-11M for the PDP-11 had filesystem versioning back in the early 1980s, if not earlier.

And if they were releasing Cowork for RSX-11M, that might be relevant.