Not necessarily, Apple released the 1.1.5 software for the iPod touch after 2.0 had become available (as an alternative for those that didn't want to upgrade, it offered nothing but bug fixes).
Apple will continue to update the 2.x firmware until 3.0 officially comes out to the public. Or atleast they will have to release on last stable update for people like some of the iPod Touch users that might not want to pay the $9.95.