Even as I was typing this I was thinking that it sounded too good to be true. It did address the issue with high file fragmentation, though.

The downside is that since there's no native support for snapshots I have to use `cp --reflink=always` to simulate snapshots. It works, but `cp` has to traverse through a directory tree to copy the metadata. In contrast, the BTRFS snapshot is instant and atomic. For me, it's a small price to pay.