If I exclude my git directories (one of the most important things on my computer) then I really don't see the point of using TM at all with the other backups I do regularly.
Even if I don't want to push to a server, I use a different disk or USB as an additional remote in git and push to that. Although I do that only for financial data, so only done once a month so it's not too big a hassle.
From https://eclecticlight.co/2025/10/02/why-did-that-macos-upgra...
> Backup utilities including Time Machine normally make a snapshot with each backup, and retain them for 24 hours, following which they’re automatically deleted. As snapshots can’t exclude folders in the way that Time Machine can in its backups, if you’ve been working with a couple of 100 GB VMs then they will be retained in snapshots even though you probably exclude them from being backed up.