In the past, yes, so there are some old themes/plugins still doing that (and I guess humans/robots are continuing to copy the legacy pattern).
But nowadays you can use < or > indicators on the left-hand-side of the compatibility file. So you can do
<2026.7.0-latest: 93b5b22
But also, we try to avoid using the compatibility file for anything these days. Instead we rely on the automatic d-compat/* branches to take care of compatibility with past versions.