next/dynamic not hydrating content and rendering twice on pages dir

[kristiancoulsonplt]

Link to the code that reproduces this issue

https://github.com/kristiancoulsonplt/next-dynamic-bug

To Reproduce

1. Clone the repo
2. npm i
3. run npm run dev:turbo and you should see it on the index page

Manual Rep to recreate the issue

1. Create a new next app using pages router
2. Create a component that is imported into _app using dynamic import
3. Run next dev server using turbo pack

Current vs. Expected behavior

Without using turbopack it only renders once and hydrates properly

Using turbopack it renders once with SSR, then renders a second time - worth noting the first render is not interactive at all

Provide environment information

Operating System:
  Platform: darwin
  Arch: arm64
  Version: Darwin Kernel Version 23.6.0: Fri Nov 15 15:13:15 PST 2024; root:xnu-10063.141.1.702.7~1/RELEASE_ARM64_T6000
  Available memory (MB): 32768
  Available CPU cores: 8
Binaries:
  Node: 20.19.0
  npm: 10.8.2
  Yarn: 1.22.19
  pnpm: N/A
Relevant Packages:
  next: 15.2.4 // Latest available version is detected (15.2.4).
  eslint-config-next: N/A
  react: 19.1.0
  react-dom: 19.1.0
  typescript: 5.8.2
Next.js Config:
  output: N/A

Which area(s) are affected? (Select all that apply)

Lazy Loading

Which stage(s) are affected? (Select all that apply)

next dev (local)

Additional context

The closest issue I can find is this comment but the thread was auto closed due to inactivity #70795 (comment)