In our project template, we require our own recipes using the ~ constraint operator, which is more restrictive than the ^ operator and only allows the recipes to be updated to new patch releases.
This was done because we didn't have recipe unpacking capabilities at the time, so it seemed safer to use very conservative constraints and prevent the possibility of recipe dependencies being updated in ways that could break sites.
However, in Drupal CMS 1.2.x and 2.x, we have adopted recipe unpacking upon project creation. The recipes' dependencies will no longer matter to the site once the recipes are unpacked. This means we don't have to be as conservative with the constraints anymore.
As it happens, both branches are currently using ^ constraints, which is correct for development branches. Once 1.2.x becomes a release branch, it would normally start using ~ constraints. I propose that we don't bother with that; just keep ^ and let recipe unpacking handle the rest of it.
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Nobody has objected here, and I put this in front of @catch and didn't hear anything. Everyone seems to agree that ~ is too restrictive at scale, and can cause update issues. I think I'm comfortable with this as policy.