Oh certainly: I would /hate/ my version control software locking me into a particular bug tracking methodology. However, I think in the same way the browser has become the standard runtime for most applications that we will need to join version control and bugtracking together to preserve "all the history". The next frontier is someone layering bugtracking on top of something like git, so software archaeologists won't be abundant. :-)
Are there any bug trackers that use git as their data storage? Would be cool to bundle that up as a subrepo or something, so it can get carried along with the code repo, and also allow writing up bugs, fixes, etc... while offline to be synced later.
Also in my experience the current generation of developers don't understand or care about useful commit history.