Sublime Merge is a git client. It provides an intuitive UI to perform git operations (as opposed to doing it from a command line). So, depends
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If you are using Terminus to perform git operations, then I wouldn’t say it wouldn’t replace it, but you can try Sublime Merge to see if you like doing git operations using a GUI rather than from the terminal (in this case Terminus)
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For any other kind of terminal related operations, there is no meaning for the term replace. You can’t run npm commands from Merge because it doesn’t make sense (since it is not designed for such purposes)