Does it, though?
What problem do they actually have that requires redesigning a whole new vcs?
Merge conflicts? That's not exactly a vcs problem but a "we changed the same code at the same time" problem. No tooling on earth eliminates the need to verify conflict resolutions if agent A renames int foo to int bar while agent B renames int foo to int baz.
Growing repo size? They should take a long hard look at what they are doing. How is their software architected? Is every single little change and half-baked AI churn commit pushed to the main repository, or does the main repo only receive the deliverable? Is everything under the sun tracked in a mono repo or are projects stored independently?
Do they take any precaution at identifying churn and taking steps to minimize it?
Frankly, this reads like a bullshit PR stunt, much like the bullshit curl vulnerability findings. They have a self-inflicted problem, and their solution is to persist the problem and mitigate the problems by rolling out ad-hoc tooling? It reads like "if all you have is a hammer" kind of situation.