> Does anyone understand what the end objective of V is?

The Vlang site makes it clear what their objectives are[1]. "Simple, fast, safe, compiled. For developing maintainable software." They also have a roadmap[2], showing what their end objective version (or production release) will have.

> I've known about this language for I think 4-5 years and for some reason it's still v0.5...

They just came out with version 0.5 (2 weeks ago from this post), so obviously that statement is mistaken.

[1] vlang.io

[2] https://github.com/vlang/v/blob/master/ROADMAP.md (vlang's roadmap)

No it has not been 0.5 for years. Check their homepage. You can see the timeline for the releases there. 0.5 was released a few days ago and is a major step for the language.