Weird Ruby Behavior

my_class.rb

class MyClass
  def value
    "VALUE!"
  end

  def do_something
    puts defined?(value)  # Outputs "method"
    puts value            # Outputs "VALUE!"
    if false
      value = 'abcdef'    # Should not execute
    end
    puts defined?(value)  # Outputs "local-variable"
    puts value            # Outputs nothing
  end
end

MyClass.new.do_something