That's because git isn't scalable.
This is a serious limitation in git that is drowned out by git advocacy. Search the git mailing lists and you'll find hundreds of users wondering why just a meager 100 MB of images (say, for a web site or application) brings git to its knees. The problem appears to be that nearly all of git relies on an optimization they refer to as "packing". Unfortunately, packing is inefficient for all but the smallest text files (i.e., source code). Worse, it grows less and less efficient as the history increases.
It's really an embarrassing flaw in git, which is touted as "fast" (despite lack of evidence), and the git developers are well aware of it. Why haven't they fixed it? You'll find responses on the git mailing list from git developers who won't recognize the problem because they Photoshop documents (*.psd) are proprietary format. Yes, it's really that bad.
Here's the upshot:
Use git for tiny, source-code only projects for which you don't feel like setting up a separate repo. Or for small source-code only projects where you want to take advantage of git's copy-the-entire-repo model of decentralized development. Or when you simply want to learn a new tool. All of these are good reasons to use git, and it's always fun to learn new tools.
Don't use git if you have a large code base, binaries, huge history, etc. Just one of our repos is a TB. Git can't handle it. VSS, CVS, and SVN handle it just fine. (SVN bloats up, though.)
Also, give git time to mature. It's still immature, yet it has a lot of momentum. In time, I think the practical nature of Linus will overcome the OSS purists, and git will eventually be usable in the larger field.