It's true that you must use valid existing application versions but you generally don't need to repackage your addons, unless of course a change in the SDK directly affects your addons.
The reason for this is that by default the max target version is not going to be checked.
From the install manifest documentation:
strictCompatibility
A Boolean value indicating if the add-on should be enabled when the version of the application is greater than its max version. By default, the value of this property is false meaning that the compatibility checking will not be performed against the max version.
<em:strictCompatibility>true</em:strictCompatibility>
Usually, there is no need to restrict the compatibility: not all new releases will break your extension and, if it is hosted on AMO, you'll get notice several weeks in advance if a potential risk has been detected. Moreover, an extension being disabled, even for a short period, leads to a bad experience for the user. About the only time you should need to set this if your add-on does things that are likely to be broken by Firefox updates. You do not need to set this flag if your add-on has a binary component, since add-ons with binary components are always subject to strict compatibility checking (because binary components need to be rebuilt for every major application release anyway).
There is also is a recommendation for choosing version ranges.
minVersion and maxVersion should specify the range of versions of the application you have tested with. In particular you should never specify a maxVersion that is larger than the currently available version of the application since you do not know what API and UI changes are just around the corner. With compatibility updating it is not necessary to release a whole new version of the extension just to increase its maxVersion.
Technically you can use wildcards, but the documentation mentions several times that AMO verifies and possibly rejects addons with incorrect versions.