We've been continuing to update and modernize user experiences throughout OneDrive and SharePoint. And as we noted earlier this month, we’re making it easier than ever to share these updates with mo...
Updated Jan 24, 2019
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Darren GrahamCheck in/Check out is not the same as major/minor versions. Check in/out is simply whether a file is locked by a particular user so no one else can edit it. It can be used regardless of the versioning settings - even with no versioning at all. (NOT recommended)
Major/minor versions is more akin to publishing. Every version is saved as a dot or minor version, also called a draft version. Under versioning settings you can limit who is allowed to see these draft/minor versions. Once you have finalized the document, you can then go in and publish a new, major version that will be visible to everyone.
I would not expect the ability to bulk check in documents to affect the publishing of major versions.
Check in/out and major/minor versions can be used separately or together. If you use them together, then yes, you would need to check in a draft version before publishing it.