bundle.js

var createModuleFactory = /* -- snip -- */
var _$lazy_4 = createModuleFactory(function (module, exports) {
  // lazy.js
  console.log('lazy')
});

var _$conditional_3 = createModuleFactory(function (module, exports) {
  // conditional.js
  console.log('conditional')
});

var _$always_2 = {};
// always.js
console.log('always')

// module.js
// Inlined _before_ the code in module.js:
_$always_2;
if (Math.random() > 0.5) {
  // Evaluated only if the condition is true:
  _$conditional_3({})
}
module.exports = function () {
  // Evaluated once this function is first called:
  return _$lazy_4({})
}

module.js

// module.js
// Inlined _before_ the code in module.js:
require('always')
if (Math.random() > 0.5) {
  // Evaluated only if the condition is true:
  require('conditional')
}
module.exports = function () {
  // Evaluated once this function is first called:
  return require('lazy')
}