@kumavis and I have been hard at work trying to find an efficient way to move THREE.js over to a browserify architecture. We made good progress, even up to the point of having all of the files moved over to a browserify build system and being able to generate a three.min.js with gulp.
Unfortunately, the examples don’t work, because unlike commonjs browserify cannot handle cyclic dependencies, of which there are many in THREE.js.
I have made an interactive graph depicting the dependency relationships here.
Unless and until these get untangled, we will not be able to move THREE.js over to a browserify build.
I do not consider this a deficiency of browserify, but rather a problem with THREE.js. Circular dependencies are a bad thing to have in software in general, and lead to all sorts of problems.