Comment by int_19h

I'm not sure about the current state of affairs, but I've been told that git-lfs performance was still not on par with Perforce on those kinds of repos a few years ago. Microsoft was investing a lot of effort in making it work for their large repos though so maybe it's different now.

But yeah, it's basically all about having binaries in source control. It's not just game dev, either - hardware folk also like this for their artifacts.