This DEV-only field was added in 836331ba5f69f2cc53b273ec073fae116db14302 by @sebmarkbage but it's not being used anymore to my knowledge.
if (current === null) {
    const type = Component.type;
    if (
      isSimpleFunctionComponent(type) &&
      Component.compare === null &&
      
      Component.defaultProps === undefined
    ) {
      let resolvedType = type;
      if (__DEV__) {
        resolvedType = resolveFunctionForHotReloading(type);
      }
      
      
      
      workInProgress.tag = SimpleMemoComponent;
      workInProgress.type = resolvedType;
      if (__DEV__) {
        validateFunctionComponentInDev(workInProgress, type);
      }
      return updateSimpleMemoComponent(
        current,
        workInProgress,
        resolvedType,
        nextProps,
        updateLanes,
        renderLanes,
      );
    }
    if (__DEV__) {