here's the quote on how they handle it from their :
> Google uses the `<lastmod>` value if it's _*consistently*_ and _*verifiably*_ (for example by comparing to the last modification of the page) _*accurate*_.
what i've been trying to give is just what google has stated within their docs; i think as we wish (@softplus was cited on this topic as well - John, please let me know if i'm misrepresenting what you said in that context).
so if we think we should update it based on modifying hreflang, changing internal links, etc., then that's totally our prerogative to do so.
however, if your ducks aren't in a row for how you do that (e.g. matching lastmod to the dateModified schema, or something like that per the note above), then it's possible that it may be ignored. whether that has a substantial impact on your site one way or the other is unknown and likely largely dependent on your site.