They called it "multiple checkout", and the manual strongly recommended you do not turn it on.
The software had issues with corruption due to operations not being atomic.
It was literally less functional than copying to a shared drive. Of course management and other developers refused to believe that OSS solutions were better, MS ecosystem developers were an extremely insular group.
Incidentally, I remember one person at Microsoft who claimed to be involved in the decision to adopt sd circa 1999 saying that Microsoft has the right to turn sd into a product if it so chooses. (He/she was responding to contrary claims made on an internal email mailing list which was very widely read, so I assume if he/she was misremembering or lying he/she would have been called out.) Though ultimately MSFT made VSTS/TFS version control instead, which has striking resemblances in concepts to sd/p4.