[jcelerier]

Absolutely not, if a project relicensed and someone on earth did a git clone with a previous license that gave some specific rights, the previous commits keep their license (or if the license was incorrect you can go to court)

[michaelmrose]

I don't think a court is going to understand git revisions. I also don't think a person reverting to timepoint 1 with license A changes the fact that they received it at time point 2 offered under license B.

At best the license.txt that accompanies a particular revision can serve as a sign post of what license applies it is not dispositive and if the sign post is wrong it was your bad for failing to understand what license applied before distributing.