Repeated close and reopen rounds occur in a narrow range of circumstances.
One of the most common situations is that a question is simply contentious: several people think it ought to be closed for some reason or another, several other people think it ought to be open.
The situation your question is in, however, is different: your question's had several iterations. Each iteration has had problems, so people have voted to close it. Then it gets edited, and the next iteration resolves some of those problems, and some voters have decided it's ready to reopen. Others think it still has problems, or has new problems, and still needs to be closed, so people have voted to close it.
Close/reopen wars get won by exhaustion of votes. Eventually, the close/reopen tug-of-war settles on one side or another. You can only vote to close a question once, and the same goes for reopening, so each person has their say over subsequent rounds of closing/reopening and then everyone who can vote has done so and the question remains either closed or open.
In the case of a contentious question, we might host a meta to come to agreement on whether to keep the question closed or not, and that usually resolves things all on its own. In your situation, it's trickier—the question has gone through several different iterations. We haven't really voted to close and reopen the same question multiple times; we've voted to close or reopen different questions each time, but all contained in the same post. It probably should've been asked as a different question somewhere along the way, but the changes were so incremental each time it's hard to say when that should have been done. Sometimes this just happens, and it's not ideal.
Assuming your question is stabilised, we basically go back to that first paragraph I wrote: either your question has problems and gets closed, or doesn't and stays open, or it's contentious and we have to talk about it. There's already been two closures and two reopens, so that's ten votes used up—the community will weigh in with more if it's called for.
That said, your question does have a bounty posted. Active bounties mean we can't vote to close it. If the community decides it needs to be closed before the bounty runs out, a diamond moderator (provided they agree) would step in to refund the bounty. Really, at this point, your question is now going to be measured by its activity and whether we see serious trouble brewing in the answers coming in.