The expression is identically 2 for (x,y,z) satisfying the given constraint. It falls out from the substitution x=u/v, y=v/w, z=w/u. Such a triple (u,v,w) exists (and is unique up to non-zero real multiples) for any given triple (x,y,z).
[The point of the substitution is it incorporates the contraint into its definition.]