Documents confirm this ("You can add property observers to any stored properties that you define, except for lazy stored properties" ( source )), but they do not provide a rationale.
I would suggest that property observers must gain access to the property that they are observing in order to attach themselves as an observer, although it does not "feel" like you. Again, this is just a hunch, but if I'm right, then obviously lazy stuff doesn't matter. Lazy properties are calculated at first access and when using the observer, they turn to this property, then it will be calculated immediately, which completely affects its purpose in the first place.
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