Nah, I actually like that they are doing that - makes complete sense when you really have a think about the comparisons between movies and video games. Us game developers are essentially just virtual movie producers (with godlike powers/abilities) in a virtual world/movie set.
What they really need to do though (and this is only because there are so many active UE projects out there that are still utilizing older versions): is to create a team for each major release version going back up to maybe 4 years ago or so (there obviously needs to be a cutoff at some point for depreciation purposes), and have those teams focused on updating old versions of the engine with the fixes that have been applied to newer versions, in addition to fixing things that only apply to those specific versions.
They should also focus on making their systems/features more modular which could benefit development on both ends of the equation. Then we would have more choice on what specific tech gets implemented into each project we create which could greatly improve the performance of our builds. I think that Epic is large/successful enough to make something like this happen. And if they do wind up going this route: I don’t think any of the other engines out there could even come close to competing with what Unreal has to offer at that point.