Asus isn't exactly known for updates, or transparency regarding them. 5.0.2 works darn well on this thing (surprisingly), so I have no complaints. I have the 2GB (ram)/16GB (flash) model (P022) and the 2nd gig must make all the difference. Either that or asus backported some memory leak fixes...
I know that when I started this thing up for the first time, it pulled down 2 OTAs. Not bad for a 4 month old tablet model.