Just browsing an old photo collection without making any changes can cause a 15 year old file to show up as a "new file", even though it's contents have not changed. This is especially true with media files that the os might take it upon itself to regenerate metadata for.
Or you may wish to store an accurate snapshot of the timestamps of cached or intermediate build artifacts.
IMO mtime the de-facto file timetsamp metadata, since it is most widely supported. The other file timestamp metadata I found were not as useful or portable.
And people use git for storing more than just source code.
I personally find it very useful to be able to clone my podcast index and have accurate timestamps not just from the commit, but from the file itself.
Timestamps can be important for a collections of files, but they are fragile and often an afterthought.