But .. at the end of the day, he's presenting a collaborative editor, with branching and merge. That's it.
The speaker also does this interesting slight of hand, which you'll miss if you dont pay attention. The issues he points out for Google Doc / Figma are equally applicable for the system he's presenting. Most people, in a professional setting, are not micromanaging. The VP of design is not sitting there thinking "gee, I wonder what Sarah is doodling right now. I wanna go and watch her work". If anything, they are thinking Sarah will let me know when I have to review. Same for a thesis advisor.