I've been checking in large (10s to 100s MBs) tarballs into one git repo that I use for managing a website archive for a few years, and it can be made to work but it's very painful.

I think there are three main issues:

1. Since it's a distributed VCS, everyone must have a whole copy of the entire repo. But that means anyone cloning the repo or pulling significant commits is going to end up downloading vast amounts of binaries. If you can directly copy the .git dir to the other machine first instead of using git's normal cloning mechanism then it's not as bad, but you're still fundamentally copying everything:

  $ du -sh .git
  55G .git

2. git doesn't "know" that something is a binary (although it seems to in some circumstances), so some common operations try to search them or operate on them in other ways as if they were text. (I just ran git log -S on that repo and git ran out of memory and crashed, on a machine with 64GB of RAM).

3. The cure for this (git lfs) is worse than the disease. LFS is so bad/strange that I stopped using it and went back to putting the tarballs in git.