What is the current behavior?
Thrown the error Uncaught ReferenceError: require is not defined

If the current behavior is a bug, please provide the steps to reproduce.
Just running webpack command with the below config

/**
 * Created by abdi.fakhruddin on 5/5/17.
 */

var ExtractTextPlugin = require('extract-text-webpack-plugin');
var path = require('path');
var autoprefixer = require('autoprefixer');
const webpack = require('webpack');
var fs = require('fs')

module.exports = {

  entry: './src/client.js',

  output: {
    path: path.join(__dirname, 'public'),
    filename: 'bundle.js'
  },

  target: 'node',

  // keep node_module paths out of the bundle
  externals: fs.readdirSync(path.resolve(__dirname, 'node_modules')).concat([
    'react-dom/server', 'react/addons',
  ]).reduce(function (ext, mod) {
    ext[mod] = 'commonjs ' + mod
    return ext
  }, {}),

  node: {
    __filename: true,
    __dirname: true
  },

  plugins: [
    new ExtractTextPlugin('styles.css'),
  ],

  module: {
    loaders: [
      {
        test: /\.js$/,
        loader: 'babel-loader',
        exclude: [
          /node_modules/,
          /\/src\/.*\/.*\/.*.test.js\//
        ],
      }, {
        test: /\.(png|jpg|jpeg|gif|svg|woff|woff2)$/,
        loader: 'url-loader?limit=100000&name=/[hash].[ext]',
      }, {
        test: /\.scss$/,
        loader: ExtractTextPlugin.extract(['css-loader', 'sass-loader']),
      },
      { test: /\.json$/, loader: "json-loader"}
    ],
  },

  devtool: 'cheap-module-source-map'

}

What is the expected behavior?
Build the project and run it with http-server

Please mention other relevant information such as the browser version, Node.js version, webpack version and Operating System.
Node: 6.6.1
webpack: 2.5.0
OS: Mac OSX
Browser: chrome

**The error **

Uncaught ReferenceError: require is not defined
(anonymous)	@	external "babel-polyfill":1
__webpack_require__	@	bootstrap 59b71a2…:19
(anonymous)	@	client.js:5
__webpack_require__	@	bootstrap 59b71a2…:19
(anonymous)	@	bootstrap 59b71a2…:39
(anonymous)	@	bootstrap 59b71a2…:39

Preflight Checklist

• I have read the Contributing Guidelines for this project.
• I agree to follow the Code of Conduct that this project adheres to.
• I have searched the issue tracker for an issue that matches the one I want to file, without success.

Issue Details

• Electron Version:
  • 5.0.0
• Operating System:
  • Windows 10 (1903)
• Last Known Working Electron version::
  • 4.1.5

Expected Behavior

In the lower version of 5.0.0, the app run properly means version 4.1.5 and below it works fine.
But in the version 5.0.0 it gets an error.
When I create a second js file and write 'require("electron")' it gets the error.

Actual Behavior

Uncaught ReferenceError: require is not defined

To Reproduce

GitHub

Screenshots