The fact that we started exporting more than a single thing from jQuery - apart from the default export we have $ & jQuery named tokens pointing to the same thing - providing an ESM version of jQuery via the module field in package.json’s exports makes Webpack treat require( "jquery" ) as a way to export the full module instead of just the jQuery object...

Originally posted by @mgol in #5414 (comment)

Issue originally reported by @cocco111 in #5414