It is time. Wayne, the current project leader, has now called the development status a feature freeze. See the announcement.
This is to satisfy the road map and finally make a real release of KiCad since the latest release, the so called "Old Stable" also knows as the "4022 release". The number is referring to the bazaar revision number for that release.
The task is now to make KiCad stable, which means bug fixing.
Bugs that needs fixing for a release are the bugs marked with high or critical importance. High and critical bugs.