Element type is invalid during HMR (100% chance)

[iamyoki]

🐛 bug report

THIS MIGHT BE THE MOST FATAL BUG

https://codesandbox.io/p/devbox/tn4zxv

React reports an error every time a third-party module or component is imported on save. It might be something wrong with HMR.

I've tested in several environments: local macos, linux devcontainer, codesandbox, yarn, pnpm, parcel v2.11 2.12. It 100% chance reproducible.

Screenshot

🎛 Configuration (.babelrc, package.json, cli command)

{
  "your": { "config": "here" }
}

🤔 Expected Behavior

No errors

😯 Current Behavior

Browser reports Element type is invalid error

💁 Possible Solution

🔦 Context

💻 Code Sample

https://codesandbox.io/p/devbox/tn4zxv

🌍 Your Environment

Software	Version(s)
Parcel	2.11, 2.12
Node	20
npm/Yarn	both
Operating System	macos, linux