>But it has very little do with version control per se

How so?

For clarity, my train of thought was that if you have that, you have easy differentiation.

Someone edited the transpose knob of a sampler plugin, someone else edited the cropping marks, you can take a shot at merging those differences.

Sometimes it might not make much sense - if you edit a synths preset, other people’s changes aren’t going to fit in the new one. But it’s a starting point at least.