In my mind, an ultimate bench meter must be extremely accurate and stable measuring voltage, current and resistance; that would mean beat or meet the specifications of the Agilent 3458a meter or its competition, entered into the HP catalog in 1989; it defines ultimate, there is nothing above it in terms of measuring capacity. If you can do this fairly cheaper than $10,000, that would be marvelous. In voltage, meter have not gone beyond 8.5 digits, or about 1nV resolution. The US standard volt is accurate to this level using a Josephson junction method.
If you're looking at ultimate in terms of the biggest Swiss-army knife type DMM, its hard to pin down because a reason many different devices exists in electrical measurement is that many in electronics work in a niche, so one size doesn't fit all. Makers define types of DMM based on what likely the user works on: electronics versus electrical, industrial versus automotive etc., and what functions can be added to speed up the workers time by adding such functions into one device.
As hobbyists focus can be in so many areas, it'll be hard to pin down, but as more devices are crammed into a space, the device also gets bigger and the quality of the device's measuring capacity may likely too, just like with big swiss army knives versus the simpler ones. My 2c.
