With PowerShell 6.0, we’ve already begun updating our versioning system to be more descriptive. Right now, PSVersion returns 6.0.0-alpha as a System.Management.Automation.SemanticVersion object (with Major, Minor, Patch, and Label properties), and we’ve also added a GitCommitId property to PSVersionTable that matches perfectly with tags on GitHub: https://github.com/powershell/powershell/tags
Still, we can definitely continue to improve the semantic version implementation. You can track (and contribute to!) the discussion on these improvements here: https://github.com/PowerShell/PowerShell/issues/2354
My request for semver (wow, over a year ago already) was specifically to use the PATCH level. It seems like every patch to say a WMF providing powershell 5 would also be version 5.0.0 rather than 5.0.1, 5.0.2, etc. It's great if there are build dates and git commits somewhere, but simple X.Y.Z numbers should always increment. I think this will become more important as faster releases (hopefully!) occur with the project hosted on github.
Dependency tracking could use the standard '~>' style operators that you see elsewhere, where '~> 6.0' means the latest 6.anything, and '~> 6.1.0` means the latest 6.1.anything (>= 6.1.0, <6.2.0 is pretty close minus alpha release schemes).
+1 toSemVer versioning. That would be a huge improvement, while we're at it.
I'm partial to author/name.