Agreed. It is likely to work pretty well with a format that is very close to plain text like LaTeX most of the time.

Git's resolution strategy is diff-match-patch of text, so it is a good analogy. However, the thing that Git does that CRDTs and OT string types generally do not is create conflicts requiring user intervention before proceeding.

If you are realtime editing concurrently, this might be acceptable, because the users might be able to see the conflict and resolve it. However, I'd say a clear UI for conflicts is the key reason why Git is able to more intuitively and safely deal with concurrent edits of non-plain text using a plain text algorithm.