Currently the project page for downloads prefers the content of the info.yml over the composer.json.
Core is deprecating support for tarball installs thus the composer data is more important going forward (it doesn't matter if module could be installed by core if composer.json will not allow download).
Now that we have a GitLab Ci composer.json's are essentially required for all but the simplest of modules compared to when the facade was deployed on very few (or none) modules had a composer.json.
As we look towards Gitlab issues the need for Dev releases to populate the version field is diminished and Git Checkouts are likely to become more common pushing the preference towards the composer.json to be the authoritative endpoint, possibly eventually having modules change info.yml to >=11 to avoid maintaining the value in multiple locations.
https://www.drupal.org/project/tfa/releases/2.0.0-alpha3 → vs https://git.drupalcode.org/project/tfa/-/blob/2.0.0-alpha3/composer.json
Use the composer.json value for drupal/core if provided, otherwise use module.info file.
UI will now show supported versions based on composer.json if present instead of info.yml.
Active
3.0
User interface
I think it is actually time to re-activate ✨ Replace .info.yml with composer.json for extensions Postponed and deprecate the .info.yml files, so that Drupal 12 relies exclusively on the composer.json file for all info that is usually in the .info.yml.