Why should we use lazy loading if browser caches the project’s bundle files?

I understand that browser caching can store bundled files for faster retrieval, so once the user has visited the site, subsequent visits should load the cached files rather than downloading them again. However, in this scenario, why is lazy loading still recommended in Angular applications or any single-page applications (SPAs)? Is it necessary if the browser already caches the entire project’s bundle?

I implemented lazy loading in my Angular app and tested it with browser caching enabled. I used Chrome DevTools to monitor the caching behavior.

I expected caching to make lazy loading less necessary, since cached files should load faster, but I wasn’t sure if this would affect initial load time and performance the same way.