It's not required, it's really a matter of preference. Many users, me included, prefer having access to the newest features and bug fixes right away, but that also means less time to test the code for new bugs.
For another example, look at Debian vs. Arch Linux and how they are released
That’s a really good example. Also makes me think of apps that have stable and beta/nightly builds available. Stable gets updated at a much slower pace than beta/nightly.
Came here to point that out. You also have LTS versions for business critical software. Sometimes, a newer version is in beta or nightly mode for a long time while the stable version only receives bug fixes.