Update release process

Extract from the slack discussion:

Regarding our versioning:
Do I understand it correctly: if we decide to upgrade a version, we do everything the README says in the related section.
But if we just merge a PR a canary version should be deployed (the one with next)?
I have just merged a PR and instead of producing a canary version for 1.1.1 (our current version), it produces the next version for 1.0.1.
Question:
Should we fix versioning, so the canary versions are added to the latest release?
OR
We should refuse at all from the canary versions? (But seems it is not possible with the flow described in the README, because we release a version from the master, i.e. when the PR is merged and canary release has initiated/finished)