Exclude node_modules from Babel loader

Do you want to request a feature or report a bug? Report a bug

What is the current behaviour? When building using preact watch, bable appears to be run on every package in node_modules. This is problematic with large packages, such as react-icons or zxcvbn, causing the build to essentially freeze.

If the current behaviour is a bug, please provide the steps to reproduce.

• Create a new project
• Install a large package (e.g. zxcvbn or react-icons)
• Run preact watch

What is the expected behaviour? Packages in node_modules will be skipped by babel so building doesn't take hours.

Please mention other relevant information. preact info failed, but the output of npm list is at https://hastebin.com/raw/anifubexot. (without zxcvbn or react-icons, as they were uninstalled locally so builds could complete)