Historically Android updates roll out much more frequently than iPhone updates. And I'm not talking about just google make the code available, they get completed by the OEM's and distributed as OEM more often than iOS updates. That is a simple fact. Over the last few update cycles android has been slowing down, but it still updates more frequently than iOS. You just don't notice because Apple IS the OEM as well as the original developer of the software. There is no public wait time after the core software is done and the device specific code is distributed.
Moreover, the android updates are far more comprehensive than apples counterparts. The typical update to the Android OS does alot more to improve the functionality of the software than the typical iOS update does. Consider the extreme, where somebody puts out a completely shitty software, and then releases a ton of updates to make it barely usable. Would the fact that they had 10 software updates in a year mean it's better than Android or iOS which both have about 1?
And you say "release it to the public" as if they just have to slap the Motorola logo on it and post it on their server. There is a lot of development that needs to go on to make the OS run on the device.
And they didn't have to start all over again on 4.04, in all likelihood the code is 98% the same. There would certainly be some setback, since the have to identify anything the new version "broke" but almost all the work they've done so far would carry over just fine from 4.03 to 4.04. And going straight to 4.04 saves time overall from updating to 4.03 and releasing 4.04 later. Instead of having two teams working on 2 software updates in parallel, have everyone on one team pushing 1 update. Besides, if they released 4.03 you'd probably be on here complaining how "this that and the other thing don't work right. Damn you Motorola for not giving us 4.04"
And never by a phone, or anything else for that matter, based on what it MIGHT be able to do in the FUTURE.