Yes. I’ve wanted something like this for a while. I’ve always wondered why there isn’t version control for DAWs. So many times I’ve spent hours editing a track and accidentally saved it without specifying a unique file name. Only to open it later and wish I could go back to before the changes that fucked it up.
The good version controls used for code & text are line-oriented; most DAW session file formats are semantically scoped, and so the VC tools won't work well.
Most DAWs allow you to "snapshot" a session at any time, and return to it as you want to. Certainly Ardour does that.
DAW projects aren't text. They can include audio files, plug-ins, automation curves, MIDI data, and more.
A complete reconstruction would have to save and freeze all of those elements.
You can save references to save space, but you still need a complete collection of everything as a starting point.
And DAWs themselves regularly change their saved file formats.
For a completely secure reconstruction you'd have to save a complete virtual machine with the current DAW version, current OS, current installed plug-ins - with licensing and DRM - and all of the project data.
Reaper makes periodical autosaves.
Logic Pro allows you to revert to previous saves / auto-saves.