Theoretically yes, but in practice you don't need the full repository, but even in mid-2010 (when i first encounter Perforce in a gamedev company - previously the companies i worked on used Subversion which was also able to handle some huge repositories -- one had all their games from the 90s to early 2010s in a single Svn repository, including code and data) a workspace with just the game's code and data in the engine's format (i.e. excluding everything a programmer wouldn't need, like the "source data" for assets such as max/maya/etc files) was around 250GB or so. IIRC the entire repository (all versions, not just latest) had crossed a petabyte in size :-P though that company put absolutely everything in Perforce.