This works with minimal coordination between authors of the dependencies. It becomes a big deal when you have several unrelated dependencies, each transitively requiring that libpupa. The chance they converge on the same exact version is slim. The chance a satisfying version can be found within specified ranges is much higher.
Physical things that are built from many parts have the very same limitation: they need to specify tolerances to account for the differences in production, and would be unable to be assembled otherwise.