Git does very well at the 80% and with tools like custom merge tools and git lfs/annex and git sparse "cone" checkouts can get pretty close to hitting the 90 or 95% case.
But yeah, so many of those extra tools in that 80 to 90% area are awful to work with because they aren't the default, aren't out the box, are hard to configure and get right. Partly because it always seems like there will be a gap in that 95%-100% window and partly because the use cases that need that 80% to 90% often are only "just 10% of use cases".
(Which is also to say that to survive Jujitsu and Pijul and others seem to have to work to make sure they handle the 80% base case extremely well just to compete with git, they haven't necessarily time to think about the 90% or 100% problem.)
(ETA: And also relates to why game development seems to feel the 20% cases more, because by volume of data game development is certainly closer to a flip of the 80/20 sides with 80% or more large binaries by volume.)
The only alternative Git offers, which is slightly better IMO, is monorepos. But they're only slightly better - they also have really significant downsides.
I'm 100% sure there's a much nicer solution to the kinds of problems people use submodules for that isn't submodules, but as far as I can tell zero people are trying to find it, despite it being such a universal problem.
Well, it is intended to compete with Git for version control. It's just that Git happens to be so bad at some aspects of version control that it isn't used much in those cases.
There's no good reason that Git couldn't be good at versioning binary files, or splitting up large projects. I mean people have tried - there's LFS and submodules. It's just that those both suck balls.
I was kind of hoping Jujitsu or Pijul would take a stab at these major Git deficiencies but unfortunately it seems like they are content to do them as badly as Git does.