After ~x.4 things slow down and only "important" fixes get backported but no new features.
After ~x.7 or so different processes and approvals come into play and virtually nothing except high severity bugs or something that "important customer" needs will be backported.
The goal is that 8.6, 9.2 and 9.4 will have releases at least every two weeks.
Maybe soon all Z streams will have a similar release cadence to keep up with the security expectations, but will keep a very similar expectations that you outlined above.
The thing about enterprise Linux distros is that they have a long support period. Bug fixes and security patches pile up.
Fortunately though, xz doesn't seem to have a lot of backported patches.
https://git.centos.org/rpms/xz/blob/c8s/f/SPECS/xz.spec https://git.centos.org/rpms/xz/blob/c7/f/SPECS/xz.spec
But take glibc for example. The amount of patches makes my head spin.
https://git.centos.org/rpms/glibc/blob/c8s/f/SPECS/glibc.spe...