Chrome realized that if it jumped ahead in version number, it could gain a huge PR advantage, and then Firefox was forced to follow that pattern or appear outdated. Users may have gained some rapid iteration, but in the long term, I think we lost the ability to understand how the browsers are changing (of course, some of that is a matter of the inherent complexity explosion in the Web).
And once you change to the constantly-incremented version numbering scheme, how can you ever go back to something more meaningful? Who's would blink first?
Happily, Pale Moon, for example, retains more modest version numbers. I hope their developers continue doing well. Imagine if it (or a similar project) were the next Phoenix, the way Firefox rose from Netscape's ashes.