Using Sencha Cmd or Webpack to implement code splitting and lazy loading in your Ext JS applications comes with its own set of pros and cons. Sencha Cmd is integrated with Ext JS and provides many features specifically for Ext JS development, such as generating application templates, themes, packages, and documentation. It can also handle the dependencies and loading of Ext JS automatically. However, it is less flexible and customizable than Webpack, may not support some advanced features or scenarios, and may not work well with other types of assets or modules that are not part of Ext JS. On the other hand, Webpack is more flexible and customizable, can support many advanced features and scenarios, can process and bundle various types of assets or modules that are not part of Ext JS, and can work well with many third-party libraries or plugins. However, it is not integrated with Ext JS, may require more configuration and setup to work with Ext JS projects, may not handle the dependencies and loading of Ext JS classes as smoothly as Sencha Cmd, and may have a steeper learning curve and require more maintenance than Sencha Cmd.