Does this work with JS in the bottom?

I put the JS (print $scripts;) into the bottom of my page (as opposed to putting it into the head of the page, cp. YSlow and this article). Now I was wondering if this module (or the JQuery Lazy Loading plugin) actually can work with JS in the bottom of the page? As far as I understand HTTP, and since the HTML code still consists of IMG-tags (as opposed to placeholders), the browser would start loading all the images first because the JS is in the bottom of the page, i.e. the JQuery/JS code cannot replace the IMG-elements with placeholders before.