Bandlab is decent enough for this, yeah. It's not "version control" in the way that programmers are used to, not by any means. More like "Google Docs" but for a DAW session. Certainly good enough for "my brother who plays keys lives in a different city but we want to collaborate on something".

This is roughly the idea but the platform is very clunky. My band also somehow lost access to some tracks due to permissions vagueries and in general the experience is very enshittified. I would not recommend it.