Having 1000 dependencies with versions pinned means you are living alone and will run into fewer issues, but when they do come, they will be absolute nightmares that no one else is dealing with and no one can help with. And one day you'll have to do the game of begging someone else to upgrade their version of a downstream thing to fix the issue, and they won't, so you'll try to get the other group to backport the fix in their thing to the version you can't upgrade off. And they won't. etc. etc.
Full versioning is the worst of all approaches, IMO, for large complex interconnected codebases (especially ones that are many-to-many from libraries to output binaries) but it absolutely is sometimes the only viable one (for example, the entire open-source-ecosystem is a giant(er) version of this problem, and in that space, versioning is the only thing that I can imagine working).
