Well said, Carter, great pic too!
I forgot to add in my last post about the difference between potting-up, which I described, and repotting, which entails removing the old soil, usually some amount of root trimming, and often replacing the plant back into the same pot if there's plenty of room again after removing the old soil & trimming roots. This is how bonsai masters are able to keep their trees alive for hundreds of years in quite small pots. Over such a long time, if they'd just been potting-up, the pots would be as big as a Mack truck.
Confining a woody entity with the potential to become huge into a pot takes some compromise, unless your house has a huge, sky-lit atrium to just let plants get to monstrous proportions. Most of us have to control their size so they will fit inside a normal house, which also usually slows the speed of growth compared to an individual outside in the ground in a suitable climate.