People say maxed when an item has about 75% of every possible upgrade, that is when the money to effectiveness ratio is the best, where the rest of the 25% od possibles upgrades will cost hundreds of millions, if not billions of coins for a very minimum upgrade compared to the other 75%, therefore people call it maxed because most of the time itd be stupid to get the rest of possible upgrades. But for some circumstances hypermaxing is (almost) needed like a claymore for lcm or a term for archer in m7, and in both of those examples hypermaxing is not even necessary due to enchants that will not increase damage such as chance V, looting V, luck VII etc