That is interesting subject. You can play around with two lifecycle hooks to figure out how it works: ngOnChanges and ngOnInit.

Basically when you set default value to Input that's mean it will be used only in case there will be no value coming on that component. And the interesting part it will be changed before component will be initialized.

Let's say we have such components with two lifecycle hooks and one property coming from input.

@Component({
  selector: 'cmp',
})
export class Login implements OnChanges, OnInit {
  @Input() property: string = 'default';

  ngOnChanges(changes) {
    console.log('Changed', changes.property.currentValue, changes.property.previousValue);
  }

  ngOnInit() {
    console.log('Init', this.property);
  }

}

Situation 1

Component included in html without definedproperty value

As result we will see in console: Init default

That's mean onChange was not triggered. Init was triggered and property value is default as expected.

Situation 2

Component included in html with setted property <cmp [property]="'new value'"></cmp>

As result we will see in console:

Changed new value Object {}

Init new value

And this one is interesting. Firstly was triggered onChange hook, which setted property to new value, and previous value was empty object! And only after that onInit hook was triggered with new value of property.