The order of processing is often significant when evaluating DITA content. Although the DITA specification does not mandate a specific order for processing, the DITA-OT has determined that performing filtering before conref resolution best meets user expectations. Switching the order of processing, while legal, may give different results.
<note conref="documentA.dita#doc/note" product="MyProd"/>
If the @conref attribute is evaluated first, then documentA must be parsed in order to retrieve the note content. That content is then stored in the current document (or in a representation of that document in memory). However, if all content with product="MyProd" is filtered out, then that work is all discarded later in the build.
<note id="note" product="SomeOtherProduct">This is an important note!</note>
A process that filters out product="SomeOtherProduct" will remove the target of the original conref before that conref is ever evaluated, which will result in a broken reference. Evaluating conref first would resolve the reference, and only later filter out the target of the conref. While some use cases can be found where this is the desired behavior, benefits such as those described above resulted in the current processing order used by the DITA-OT..