This project demonstrates strange behavior (or even bug?) of dynamic import module resolving for string interpolation. But clean webpack project with dynamic import of js modules works fine, so I think there is an issue in a different layer of transpiling process.
npm install
npm run serve
Run project and try to navigate to /test route it will raise an error in console that home variable is not defined. Looks like template string does not go through module resolving or something with such configuration. Check router.js file to see details.