The opening is over when all pieces are developed on both sides. The endgame usually starts when queens are traded off the board. The end of theory means that is as far as masters have got in an opening. Variations extend 20 moves deep because there might have been some games played that either give good fighting chances for both sides or is simply beaten to death because the line is so popular. Theory also ends when people start playing novelties to get to interesting positions or to get the game into uncharted territory. However, it is a complete waste of time to learn theory 20 moves deep, and you would be much better off learning a few moves, and then start on opening principles. Total reliance on the opening to get an advantage is plain silly and will hold you back as a player.
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It intrigues me that the standard openings, such as the Sicilian or the Italian game consist of a handful of moves, but with variations that extends often into the double figures. It seems to me that as more and more games are played, and engines analyse more games, that 'theory' on openings should just get more and more extended all the time. But I often hear commentators on matches saying '..and there theory ends'. So my question is: What marks the end of theory in any opening?
Could theory be extended all the way to the endgame theoretically?