This still appears to be a thing, and is quite annoying because this happens:
I change a python file
bench observes the .py file has changed, and restarts
I run a javascript button which calls a python function
python loads and parses the python file containing the function
python creates a .pyc file
the python script is still running
bench observes the .pyc file has changed, and restarts
the python script is killed
There is probably no need for bench to watch .pyc files?