Although that is correct, Apple has actually "branched" iTunes. While iTunes "for the mass public" has gone from 12.6.2.20 to 12.7.0.166 (followed by 12.7.1.14, 12.7.2.58, 12.7.2.60, 12.7.3.46, and 12.7.4.76), Apple also released "legacy updates" in the form of 12.6.3 and recently 12.6.4, intended only for those who wanted to stay with the original 12.6.x "branch" (such as enterprise/corporate users who deploy company apps via iTunes). The 12.6.x branch continues to allow iOS app management, Apple TV management and syncing, Ringtones, Audiobooks, and the other things that were removed in the 12.7.x branch. But you get new things like iOS 11 support and security updates in the 12.6.x branch. Notably, once you're on the 12.6.x branch via at least 12.6.3, you no longer get nagged to update to 12.7.x -- you just have to know to update manually to 12.6.4 (or 12.6.5 when that happens to be released to support other new things).
You can even "sort of" hop from 12.7.x to 12.6.3/12.6.4 if you inadvertently updated. By "sort of" I mean that you have to folder surf into the "Previous iTunes libraries" folder in order to grab a .itl file that 12.6.x will be happy with.
Sources:
Wikipedia
https://en.wikipedia.org/wiki/History_of_iTunes#iTunes_12
Apple
Deploy apps in a business environment with iTunes - Apple Support
(the Apple page is slightly confusing - do not click the link text "update to the latest version of iTunes" but instead click the word "Mac" in the previous paragraph, in the sentence "If you've already installed a newer version of iTunes, you can download this version of iTunes on your Mac.")