For the argument at hand (Can you deploy anything on a production server from a third party that is only verified cryptographically?) signatures and hashes fulfill the same function (and btw I also wrote "verifying it against a hash or signature" above). More to the point, under the hood GPG signatures only sign a hash of the file in question anyway. Verifying a file via a GPG signature is strictly less secure than verifying it by its hash (assuming you use the same hash function as the signature).
Tag signatures only cover the mapping from tag name to commit hash. In other words, specifying a manually-verified commit hash is actually more secure.
Tag signatures are mostly worthless now from a crypto point of view -- with the caveat that you can still get some value from them if you still trust sha1 to be secure against second-preimage attacks.
But yeah, you could put an unverified repos to be used