Clarification on New API Spec Endpoint

https://api.hubapi.com/api-catalog-public/v1/apis/crm/v3/objects
has been replaced with the new endpoint:
https://api.hubapi.com/public/api/spec/v1/specs.

From our observation, the new endpoint returns a response like:
https://api.hubapi.com/public/api/spec/v1/specs/CRM/Objects/versions/424,
which seems to provide the same result as the previous CRM Objects spec URL.

Could you please confirm our understanding:

Is the new endpoint designed as a generic/top-level API catalog, and CRM Objects is now part of that hierarchy?
What does versions/424 represent? Will this version ID change in the future?

Based on which flag, the openApi link value will be picked incase of multiple specs versions?
Which flag is consistent across specs and will keep working when HubSpot revs their OpenAPI definitions again?

Hey @ShubhangiPawar - thanks for following up here!
Re-tagging @moid-space to see if we can get any additional context for you!
Shane, Senior Community Moderator