Inkjets are not used to make newspapers, books, stamps, bank notes. You use platesetters and then a printing press. For newspapers a bit lower resolution platesetters are used, which do about 1200dpi. For books 2400 dpi, and for special applications like stamps you can go higher to 5000+ dpi, but that's rarer. Google Kodak Trendsetter for example if you want to find actual products.
These don't dither, it just produces plates which then can be used for offset printing with CMYK or more colors. For images they do raster masks and resolution is then measured in lpi, you get say 450 lpi from a 2400 dpi platesetter, which requires 1.5x=675 ppi original image to avoid aliasing.
The original question was however if the printing industry use this high resolution only to make rasters, or if the resolution is there to make sharper black and white typography and other vector graphics. Well, finding a "reference" for that is not easy, you can just conclude that even black-and-white books without images are printed at these resolutions, and platesetters dedictated for newspapers are limited to 1200dpi while those designed for making books have 2400 ppi, and those designed for printing stamps etc double that. Stamps and bank notes are looked at with loupes so I guess those don't count I suppose.
When arguing about resolution and print quality the same type of argument as within photography arises -- you know the discussion "you only need 4 megapixels from the camera because the eye cannot resolve more", and indeed in certain viewing conditions that is true. However exceptional quality is not about printing pixels smaller than we can count, it's also about the side effects like rendering a sharp edge on a letter. Even the highest ppi screens on the mobile phones today indeed render smooth fonts, but they are just that smooth, they're not sharp. Antialiasing techniques make the edges soft. To make really sharp edges you should have a transition from 100% black to 100% white, no grayscale inbetween. And to make that look really good you need very high resolution.
The reason newspapers only have 1200 dpi limit is that the quality of the paper is not good enough to handle a 2400 dpi resolution.
The platesetting technology has been capable of very high resolution for a long time. I think that the main reason why they have these high resolution is because we can, the technology makes it "easy" to make high resolutions. Platesetting technology of course has nothing to do with sensors, it's just an illustration that if a technology appears that easily can achieve high resolution then it's likely it will be used. As you say we're probably not there yet with CMOS technology, as the steppers that can do large scale sensors can't make small featuers.
I've heard about people that make prints from 8x10" negatives without upsizing, achieving a special look from the ultra-high resolution. Going overkill can have subtle effects.
For really large sensors maybe we need a breakthrough in chemistry in addition to electronics. Imagine a film sheet that could be exposed over and over again, and scanned + reset in place...