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The libSDL_image.dylib building with --enable-feature-shared (e.g. --enable-png-shared) has no data of dependent shared library for specify librarys.
It may be correct because there is no shared symbol in libSDL_image.dylib against options.

> $ otool -L libSDL_image.dylib 
> /usr/local/lib/libSDL_image.dylib:
>	/usr/local/opt/sdl_image/lib/libSDL_image-1.2.0.dylib (compatibility version 9.0.0, current version 9.4.0)
>	/usr/local/opt/sdl/lib/libSDL-1.2.0.dylib (compatibility version 12.0.0, current version 12.4.0)
>	/System/Library/Frameworks/ApplicationServices.framework/Versions/A/ApplicationServices (compatibility version 1.0.0, current version 48.0.0)
>	/System/Library/Frameworks/Cocoa.framework/Versions/A/Cocoa (compatibility version 1.0.0, current version 22.0.0)
>	/usr/lib/libSystem.B.dylib (compatibility version 1.0.0, current version 1226.10.1)
>	/System/Library/Frameworks/CoreFoundation.framework/Versions/A/CoreFoundation (compatibility version 150.0.0, current version 1256.14.0)
>	/System/Library/Frameworks/CoreGraphics.framework/Versions/A/CoreGraphics (compatibility version 64.0.0, current version 600.0.0)
>	/System/Library/Frameworks/CoreServices.framework/Versions/A/CoreServices (compatibility version 1.0.0, current version 728.6.0)
>	/System/Library/Frameworks/ImageIO.framework/Versions/A/ImageIO (compatibility version 1.0.0, current version 1.0.0)
>	/usr/lib/libobjc.A.dylib (compatibility version 1.0.0, current version 228.0.0)

But the library with --enable-feature-shared=no has data against it has no shared symbol.
The following library was built with --enable-jpg-shared=no, --enable-png-shared=no, --enable-tif-shared=no and --enable-webp-shared=no.

> $ otool -L /usr/local/Cellar/SDL_image/1.2.12/lib/libSDL_image.dylib 
> /usr/local/Cellar/SDL_image/1.2.12/lib/libSDL_image.dylib:
>	/usr/local/Cellar/SDL_image/1.2.12/lib/libSDL_image-1.2.0.dylib (compatibility version 9.0.0, current version 9.4.0)
>	/usr/local/Cellar/libpng/1.6.21/lib/libpng16.16.dylib (compatibility version 38.0.0, current version 38.0.0)
>	/usr/local/Cellar/jpeg/9b/lib/libjpeg.9.dylib (compatibility version 12.0.0, current version 12.0.0)
>	@rpath/libtiff.5.dylib (compatibility version 5.0.0, current version 5.2.4)
>	/usr/lib/libz.1.dylib (compatibility version 1.0.0, current version 1.2.5)
>	/usr/local/Cellar/libwebp/0.5.0/lib/libwebp.6.dylib (compatibility version 7.0.0, current version 7.0.0)
>	/usr/lib/libSystem.B.dylib (compatibility version 1.0.0, current version 1226.10.1)
>	/usr/local/Cellar/SDL/1.2.15/lib/libSDL-1.2.0.dylib (compatibility version 12.0.0, current version 12.4.0)
>	/System/Library/Frameworks/ApplicationServices.framework/Versions/A/ApplicationServices (compatibility version 1.0.0, current version 48.0.0)
>	/System/Library/Frameworks/Cocoa.framework/Versions/A/Cocoa (compatibility version 1.0.0, current version 22.0.0)
>	/System/Library/Frameworks/Carbon.framework/Versions/A/Carbon (compatibility version 2.0.0, current version 157.0.0)
>	/System/Library/Frameworks/CoreFoundation.framework/Versions/A/CoreFoundation (compatibility version 150.0.0, current version 1258.1.0)
>	/System/Library/Frameworks/CoreGraphics.framework/Versions/A/CoreGraphics (compatibility version 64.0.0, current version 600.0.0)
>	/System/Library/Frameworks/CoreServices.framework/Versions/A/CoreServices (compatibility version 1.0.0, current version 728.9.0)
>	/System/Library/Frameworks/ImageIO.framework/Versions/A/ImageIO (compatibility version 1.0.0, current version 1.0.0)
>	/usr/lib/libobjc.A.dylib (compatibility version 1.0.0, current version 228.0.0)

It is inverse. And There is other strange point about libz.