There is absolutely nothing special about `latest`, it’s just a tag like any other. It simply happens to be the default tag when omitted, just like how `origin` is the default remote name when performing a `git clone`.
To expand on this: Well maintained projects do not often push to `:latest`; They treat that tag like a `stable` version and push to it only public, stable releases. Roughly, it should always be max(semver), though practically it often trails when a new major release happens.