There are commits, but no release, it's very frustrating if you depend on any of those commits, and there are no one available to cut a new version, or to pass on the torch.
For four years there was commits to the beanstalkd project, but no release, it took about a year after the issue was first raised until someone appeared and a maintainer was found: https://github.com/beanstalkd/beanstalkd/issues/399
Pipenv isn't stable and reliable yet though, at least compared to pip+venv. The tooling is really handy and it makes it in theory easier to write Python code, but in practice there is still work to be done.
This is a good question. I have wondered the same thing about software in general. In this specific case, though, there are 313 open issues and 33 pull requests. So people are finding bugs in the current version (and fixing them).
I would like more projects to be without commits and just work.
I don't understand why there must always be new commits if everything already works.