Earlier quoted context omitted.
This isn't entirely true. Scuttelbutt had some design and scaling issues. But there wasn't a global database. Each user gets their own blockchain. Its a network of tiny blockchains where the consensus model was the signature from the private key and the chain of hashes.
Not disagreeing with you, just nitpicking on the use of a word: What you are describing is simply a signed Merkle tree, not a blockchain. You cannot really call an individual signing it's own ledger a consensus mechanism. Maybe "validity" or "authenticity" would be better terms here. I know a lot of people make this mistake of labelling anything that has a Merkle-tree like structure a blockchain but it's impractical…
I'll share my definition of these terms, for me they have very precise definitions:
A merkle tree is a specific data structure: https://en.wikipedia.org/wiki/Merkle_tree
> In cryptography and computer science, a hash tree or Merkle tree is a tree in which every "leaf" (node) is labelled with the cryptographic hash of a data block, and every node that is not a leaf (called a branch, inner node, or inode) is labelled with the cryptographic hash of the labels of its child nodes. A hash tree allows efficient and secure verification of the contents of a large data structure. A hash tree is a generalization of a hash list and a hash chain.
If you have hashes co-located with data, and data spread throughout the chain, it is not a merkle tree.
A blockchain is a linear chain of hashes of the content in each block of the chain. In a blockchain, for any given block, there is only one valid next block.
When a blockchain is propagated over a network, there is a consensus algorithm used to agree on state of that chain. Bitcoin uses proof-of-work to agree on the next block. Anything that allows multiple nodes to reach consensus on the state of a blockchain is a consensus algorithm. SSB uses proof-of-signature, and the sequence number, as its consensus algorithm. The network reaches consensus on the state of any particular chain by validating the signatures and that the sequence numbers are in the correct order.
Colloquially, blockchains have been conflated with their consensus schemes. When people use the term blockchain conversationally, they generally mean a blockchain that propagates over a network using some sort of consensus algorithm. This conflation of consensus with blockchains has lead to many people in the p2p space rejecting the term blockchain to distance themselves from the crypto hype bubble, even though the data structure itself is quite useful.
Finally there is a Merkle-DAG, introduced by Juan Benet, that acts as a unifying data structure for both blockchains and merkle-trees. Merkle-DAGs can also express novel data structures that are neither a merkle-tree nor a blockchain.
tl;dr: a blockchain is not a merkle-tree, and a merkle-dag might be capable of representing a blockchain but they are separate concepts. A blockchain is independent of its consensus algorithm, although colloquially the two have been conflated.
P.S. Merkle-DAG might be capable of representing git, would be fun to give it a try sometime using something like IPLD.