swc: Circular class imports break when upgrading 1.2.205 -> 1.2.206

Describe the bug

When upgrading from 1.2.205 to 1.2.206, SWC changes how it compiles exports.

In version 1.2.205:

In version 1.2.206:

I have a bunch of model classes in my codebase, which of course circularly reference each other.

To avoid circularity problems, the ORM I use uses the “late binding” hack popular in the JavaScript community, referencing bindings with anonymous functions, e.g. @OneToMany(() => Book) instead of just @OneToMany(Book). However, this seems to no longer work after the compilation change of SWC 1.2.206.

Input code

// Person.ts
import { Book } from "./Book";

export class Person {
    books = new Collection<Book>();
}

// Book.ts
import { Person } from "./Person";

export class Book {
    author?: Person;
}

Config

{
  "jsc": {
    "parser": {
      "syntax": "typescript",
      "tsx": false,
      "decorators": true,
      "dynamicImport": true
    },
    "transform": {
      "legacyDecorator": true,
      "decoratorMetadata": true
    },
    "target": "es2018",
    "baseUrl": "src",
    "paths": {
      "lib/*": ["lib/*"],
      "app/*": ["app/*"],
      "fixtures/*": ["fixtures/*"],
      "test-utils/*": ["test-utils/*"]
    }
  },
  "module": {
    "type": "commonjs"
  }
}

Playground link

No response

Expected behavior

Running this code after building it, or running it with node -r @swc/register should work.

Actual behavior

Running the code after building it, or running it with node -r @swc/register, produces this error:

$ NODE_ENV=script node -r @swc/register src/fixtures/command.ts reapply
/Users/kelley/mywheels/api/src/app/core/models/Fleet.ts:6
    get: ()=>Fleet,
             ^

ReferenceError: Cannot access 'Fleet' before initialization
    at Object.get [as Fleet] (/Users/kelley/mywheels/api/src/app/core/models/Fleet.ts:16:14)
    at Object.<anonymous> (/Users/kelley/mywheels/api/src/app/core/models/FleetContractType.ts:13:16)
    at Module._compile (node:internal/modules/cjs/loader:1103:14)
    at Module._compile (/Users/kelley/mywheels/api/node_modules/pirates/lib/index.js:99:24)
    at Module._extensions..js (node:internal/modules/cjs/loader:1157:10)
    at Object.newLoader [as .ts] (/Users/kelley/mywheels/api/node_modules/pirates/lib/index.js:104:7)
    at Module.load (node:internal/modules/cjs/loader:981:32)
    at Function.Module._load (node:internal/modules/cjs/loader:822:12)
    at Module.require (node:internal/modules/cjs/loader:1005:19)
    at require (node:internal/modules/cjs/helpers:102:18)
error Command failed with exit code 1.

Version

1.2.206

Additional context

No response