It makes no difference whether it's labelled 1.3 or 2.0. It's not a pissing contest with other forum softwares. Primary number changes are normally used for a total rewrite, philosophy change, when you run out of .* numbers, or when you want to make people think it's a completely different beast. It still matters not a jot whatever the reason.
I didn't say anything about other scripts... Why would you even compare two scripts based on the version numbers?
The extension system is a pretty big feature addition. Even if it's not totally correct versioning-wise, I just thought that alone warranted a new major version number.
You could also argue that because PunBB's main philosophy is to let the user choose the features they want, with very few built-in, PunBB would never reach 2.0. So maybe the devs should decide their own rules for versioning.