I have been over such a quandary before, for another product. What's important here is keeping "monotonicity"^ - at least in the long term, meaning the Co to make their minds within next month or two if 7.1 should be "7.10" or "7.01".
The other concern is consistency between different places. My Settings > System > About currently says "version 7.1.0
BrightScript Debugger> ? CreateObject("roDeviceInfo").getVersion()
that's version of "7.10
" and build "4055
". Per @adamkaz the http user agent is "7.10" too. To this About showing minor as ".1" instead of ".10" and the addition of a 3rd version component ".0" seems a WTF moment.
(^) either as a number or as a string (lexicographically). i.e. "preserve the order", later versions of the firmware should return "bigger" in some sense version, so checking requirements is a sane process. Of note, if the major version number ever goes over 1-digit length, the difference between numeric and lexicographic comparisons becomes important. It doesn't matter re the minor version - (brick&mortar) libraries' Dewey Decimal System allows them to always insert one more version between two already existing ones (since between any two rational numbers there is infinitely many more)