So what is the "strictly non-wrong option?"
Is the identity
0.333... [base10] = .1 [base 3]
wrong too?
Your inequality in the decimal base
1/3 > 0.333...
is still waiting for the proof. See, the problem is that multiplication and division in any number base don't require actual computation when numbers which are not integers are multiplied or divided by the number which denotes the base. Instead, the separation point (in base 10 it is called the decimal point) is shifted to the right or left. For example, if you multiply binary number 101.011 by binary 1000 then
101.011 * 1000 = 101011
The number was multiplied by 8[base 10], which is 2
3 and so the point that separates the integer part from the fractional part has been shifted 3 (the exponent) places to the right. This shift avoids the incompleteness of multiplication of numbers with infinite fractional part. So in base 10, multiplying or dividing by 10 means shifting the decimal point by one place respectively.
x = 0.3333...
10x = 3.333...
10x - x = 3 (the infinitely long fractional parts are being subtracted)
9x = 3
x = 3/9 = 1/3
0.3333... = 1/3
That means the expression 0.333... is equal to the expression 1/3. At the same time, 0.333... is getting more and more precise as the number of the decimal digits is growing without bound. That means the number is getting "infinitely precise."

What is the lowest number that 0.333... approaches but never reaches?

Is it number expressed as 1/3? According to the above equations, it cannot be. So your inequality calls for 1/3 to be converted to the number with a radix (approximate format) to make a comparison other than shown above.
We can prove that UP = DOWN. Since UP and DOWN are opposites, we prove that opposites are equal and demonstrate it on the opposites APPROXIMATE and EXACT:
Approximate = Exact
t = 0.25000... = 1/4
As the number of zeroes grows without bound, the magnitude of t doesn't change. Since any expression that is free of the radix (the decimal point) is called exact, like 1/4, the assumption is correct, and by analogy, STUPID = SMART, or ATHEIST = THEIST.