The size limit will be a problem for non-code files. The blobs would have to be split or relays would have to accept larger events (but having "big event" relays is still infinitely better than a git server).

Git internals are *really* well designed and it makes git almost perfectly suited to exist as nostr events if we are only talking about code, so I'm going to focus on that first and then deal with "large" files if people start actually using it.

For codebases without images or binary files etc, I think it's very doable because of the way that git packs blobs. I tested it with the Bitcoin repo and it's looking very promising even on relays with the usual size restrictions (but the sheer number of events is a bit of an issue).