TFVC is more like Subversion but has a lot more features. It has next to nothing in common with git except that you can use it to version control files. Although I would agree that git's workflow is better for almost all use cases.

Azure DevOps has a lot more features than GitHub for micromanagement which means that middle management loves it. You can design elaborate workflows on boards and link almost everything together. It also supports reporting, connects directly to the Azure AD, and supports complex permission management with ACL for nearly every feature you can imagine.

It also supports free stakeholder accounts.