Interesting to see the origins of X. Were there really 10 versions before it got to X11 and why did the version stop there?
As for why X11 was the last major version: the protocol has remained backwards compatible since then. Clients created decades ago can still operate with modern X servers. It's pretty cool!
http://www.theresistornetwork.com/2013/12/a-testament-to-x11...
See https://en.wikipedia.org/wiki/X_Window_System#Origin_and_ear...
I think once extensions were introduced, they probably didn't need to extend the protocol.