Definitely, checkout their example on how to host git on ipfs[0]

[0] http://gateway.ipfs.io/ipfs/QmTkzDwWqPbnAh5YiV5VwcTLnGdwSNsN...

While integration between git and ipfs is good -- I'm not sure I see how this is much different from just tar-ing up a git-archive and creating a torrent/magnet (setting aside many of the other aspects of how ipfs and torrents work).

Decentralized git pull for only a given hash isn't all that interesting?

If one could pull in updates and/or push changes -- that would be "decentralized git". This is example is more "ipfs.io as a transport for git-releases", rather than "ipfs.io as a transport for git"?

There is this script I worked on to help doing that:

https://github.com/whyrusleeping/git-ipfs-rehost