netlify-cli V10 breaks React Fast Refresh - minimal reproduciton

Steps to reproduce:

  1. Run npm start
  2. Change something, like JSX, in src/pages/index.js
  3. Observe that it does not hot-reload in the browser
  4. Browse to http://localhost:8000 (the underlying Gatsby dev server)
  5. Try again; observe that Fast Refresh is working fine
  6. Downgrade to netlify-cli@^9
  7. Browse to http://localhost:8888 (the netlify-cli dev server)
  8. Try again; observe that Fast Refresh is working fine