The tool that could replace git must free, ubiquitous, and arguably open-source. This is why I cannot imagine how raising $17M may pay for itself in that case, to say nothing of a 10× return. It may be a great tool, but I'd be very reluctant to use a closed-source solution as a cornerstone of infrastructure.
I would argue it being proprietary would be completely unacceptable, for such a position of importance. In any case, Git has become tremendously entrenched over the past couple decades. Anything that hopes to replace it would have to be significantly better to break from the inertia Git has. I’m honestly skeptical as to whether this is even possible in the near future. We’re not at all in the same historical moment a…
but since then, so many people have gotten used to the basic model that git offers (even if they still have issues with details of the syntax).
to gain a foothold in this environment is a monumental task, and anything that wasn't unambiguously libre and probably gratis too has little hope.