That might be accurate for shrink wrap software and maybe even shareware, but it's not for free (as in beer) software. I'll grant that it was never specified, but I got the impression this project was being freely distributed -- otherwise he probably wouldn't bother with bugfix releases.

In the free (as in speech) software world, major versions indicate major changes in the software (e.g. gtk+1 vs. gtk+2). A series of minor features, no matter how long, doesn't warrant a new major release number.