As the CentOS Stream community grows and the enterprise software world tackles new dynamics, we want to sharpen our focus on CentOS Stream as the backbone of enterprise Linux innovation. We are continuing our investment in and increasing our commitment to CentOS Stream. CentOS Stream will now be the sole repository for public RHEL-related source code releases.
I thought Fedora —> RHEL —> CentOS, but I could be wrong.
You are correct, CentOS is still downstream from RHEL, whereas CentOS Stream is just ahead of RHEL.
No that was changed with Stream. RHEL is the furthest official downstream now. Most stable and slowest to update.