Who's suggesting that? They're sending reports to projects to fix. It's up to the projects on how they fix them.

No, I don't think all bugs are fixed. The point of the project (glasswing etc) was to fix as many as possible in the core software the world runs on before the capability to find vulnerabilities is available to everyone (black hats included). Which may only be a few months.

I do think everyone expects it to be an ongoing treadmill: models get better, find better vulnerabilities, etc.