Most DAWs allow you to "snapshot" a session at any time, and return to it as you want to. Certainly Ardour does that.
A complete reconstruction would have to save and freeze all of those elements.
You can save references to save space, but you still need a complete collection of everything as a starting point.
And DAWs themselves regularly change their saved file formats.
For a completely secure reconstruction you'd have to save a complete virtual machine with the current DAW version, current OS, current installed plug-ins - with licensing and DRM - and all of the project data.
The problem is not the non-text elements, because in a non-destructive non-linear editor, those elements are rarely, if ever, modified after creation.
The rest of the state can easily be represented as text, but as I noted in my other comment (a sibling of yours) the format is rarely line oriented which makes most VC tools not particularly suitable.