A Merkle tree is not a recursive signature algorithm, because a hash function is not a signature algorithm.
https://paragonie.com/blog/2015/08/you-wouldnt-base64-a-pass...
(Yes, you can build signature algorithms out of hash functions, but definitions matter.)
Git + PGP + some computationally expensive mechanism to broadcast verified PGP key attributions + a consensus algorithm might be a little bit like a blockchain, but I can't think of a good use case for that. Git repos generally aren't intended to be pushed to by the whole world.
In other words, the blockchain is just the data structure, the consensus sits outside of that as a distributed protocol.
Of course, parts of that data structure enable the protocol to work, which is the most interesting property of the blockchain, but that's just blocks, merkle trees, and chained signatures.
I think you are looking for the other qualities that typically apply to a blockchain such as the implicit need to "mine" its resources. Git simply produces these resources incidentally. I think this is the only major difference.