Earlier quoted context omitted.
It used to work that way, though; software in the 90s and early 2000s did have sane semantic versioning, updates were backported to earlier major versions, and revision updates generally didn't break anything in production. I bet semantic versioning is mostly championed by older veterans who have worked in maintenance or systems administration roles and are trying to get the industry to return to a versioning system…
I'm not sure I understand your argument. If someone's not going to backport a v2.1 fix to v1.6, why would they backport a v20170106-1009 fix to v201610-1005?
That is, the version scheme States the point is to somehow be in a position to get only security updates. However, unless there is an org specifically for maintaining a library, your only hope of getting updates is to take all updates. So, to stay on the latest.