Some want major version numbers to mean "giant changes" and others want version numbers to mean "not just a security patch". Others want something between.

None of these approaches is any more correct than the other and theres zero chance of getting everyone to agree only one should be used. You just have to understand which delivery approach is being taken to consume it accordingly.

E.g. 1.4.8, 14.8, and 148 all tell their own story. 1.4.8 implies many small releases with a few decent size changes along the way. 14.8 implies a medium speed (perhaps ~yearly) regular delivery if bigger enhancements with minor patches/fixes in between. 148 implies a long running continuous rapid delivery of all things as they become available.