Can you help provide examples from your development experience where "knowing the accurate history of what happened" was a very big advantage, to the extent where not having this knowledge would have made things very difficult?
With git, this kind of experiment would be hidden with a "reset hard", and probably will happen again when people forgets, someone says "didn't we try that a year ago?" but we have no records.
This is very helpful in small private teams, not so much in biggest teams (kernel), pass-by PR environments (github), or public CV-oriented repos (no mistakes allowed there, only pretty linear timelines).