If it were intended to be general replacement for general purpose version control systems, I am not sure how storing AST is better than storing the original plain text files since the transformation from text to AST might be lossy. I might want to store files with no AST (e.g. plain text files), files with multiple AST (e.g. polyglots), multiple files with the same AST (e.g. files to test different code layout), broken AST (e.g. data files to be used as test cases). These use cases would be trivially supported by storing the original file as is, whereas storing any processed form of the file would require extra work.