Game will end once we reach 1.0. Considering we are at 0.7, expect 3-4 more updates before the game ends.
There actually will be. A rehaul where we add more CGs, correct some bugs, update music, dialogue, etc. TLDR; the game after 1.0 is like the beta, and 2.0 will be final with no more updates. (However, the update for this game will be extremely slow as it is mostly polishing rather than content update. The main content will not change.)