Atlassian's an AUS company. Let's say I store code on Bitbucket, or I use Atlassian's hosted Confluence service. Does this mean Atlassian might have to notify the AUS government when I change my code, or add something to my Confluence pages? Or that they might have to secretly change my code (which means I'd have to carefully check it all the time for changes)? What if I self-host Confluence? Could a software upgrade…
While they could potentially be asked to change your code stored in Bitbucket, Git will refuse to pull if the commit hashes in Bitbucket don't match your local copy, so I don't think intelligence agencies are likely to request this as it is too easily detected.
I predict altering the binaries would be a better way for intelligence agencies to covertly inject a "capability" into your software. E.g. they could ask Atlassian to introduce a hidden code injection step as part of Bitbucket Pipelines, which would be very difficult to detect unless you have deterministic builds and manually verify the output.
Aside from your code, I expect intelligence agencies would be very interested to read your product's issue tracking database (all those "minor" security vulnerabilities that your team knows they should fix someday but don't have time for right now).