Based on this, I suspect the benefit has more to do with the module organization than it does with the size of the exports. Other people have seen similar things. But it does sound like the two are interacting in a weird way, which is good to keep in mind!
I imagine you may have seen this, but @ilias has a nice gist with more details: https://gist.github.com/zwilias/7ed394ec0e9c6035e1874d19b721e294#many-imports-interlinked-module-structure
What were you doing that lead you to do these investigations? Some big slowdowns in compiling your app?