IIRC the work to target 20.04 has been going on since 2020, and just now finished. Still an incredible milestone for the team who took over when canonical abandoned the project completely! The UI is also super nice and in some respects was way ahead of its time.
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They've also indicated that the work being done to migrate from Ubuntu 16.04 LTS to 20.04 LTS should pave the way for much quicker updates in the future.