It actually does, specifically it indicates the degree to which something has changed - importantly, if action is required on the user's end (breaking releases). Or if there have been significant changes or a milestone was released (e.g. 1.0.0 means it's stable for production)
As a developer I can tell at a glance how much work this will take and whether to escalate it.
That being said I'm not opposed to a bit more detail "Thingy 3.12.10 - Miraculous Monitoring Metrics". And also I don't see a point in non-technically focussed products using this style either.
