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There are two module systems used for modern JS applications - old CommonJS and ES Modules (https://nodejs.org/api/packages.html#determining-module-system). And there are different modern packaging tools, better (and much faster) than webpack, can we use these modern tools to build JSS apps?
(Written by a backend dev for frontend devs)
No, there is 'entry point' JavaScript built in a JSS dll (as a resource file, tested for Sitecore 9.3-10.2) that is used to start nodejs process and load JSS apps. This JS file forces node js to start in CommonJS mode and cannot load JS apps build by modern package compilers.