[Compiler Bug]: Does not correctly identify components returned from factory

[imjordanxd]

What kind of issue is this?

• React Compiler core (the JS output is incorrect, or your app works incorrectly after optimization)
• babel-plugin-react-compiler (build issue installing or using the Babel plugin)
• eslint-plugin-react-compiler (build issue installing or using the eslint plugin)
• react-compiler-healthcheck (build issue installing or using the healthcheck script)

Link to repro

https://playground.react.dev/#N4Igzg9grgTgxgUxALhASwLYAcIwC4AEAVAQIZgEBKCpchAZjBBgQOQw12sDcAOgHYCEADxz4CAEwT1SUADYMo-Omgj8CAWQCeAQSxYAFAEoCwAQQIc8sdQB4JaAG4A+ABII5ciAQDquORK2APQOLnz8AL4CAvRKKmoEAGIQEMam5gRwamCEANr8pBgIADQEYAh4AHKFCAC6BAC8VJx4AHRQ5QDKeKR4CAasrEbhFlY2BLYAFgCMbh5epgVFEcEzzgJRgvyxyniq6nAcvQjJqSZm6pYV4zvx6qdpFxYWWfw5BPk1peVVNfVN1FobQ6CG6xwGQxGzzGMDsa3cnm8wCWCBWQTWGU2mxAESAA

even without state, the output is questionable: https://playground.react.dev/#N4Igzg9grgTgxgUxALhASwLYAcIwC4AEAVAQIZgEBKCpchAZjBBgQOQw12sDcAOgHYCEADxz4CAEwT1SUADYMo-Omgj8CAWQCeAQSxYAFAEoCwAQQIc8sdQB4JaAG4A+ABII5ciAQDquORK2APQOLnz8AL4CAvRKKmoEAGIQEMam5gRwamCEANr8pBgIADQEYAh4AHKFCAC6BAC8VJx4AHRQ5QDKeKR4CAasrEbhFlY2BLYAFgCMbh5epgVFEcEzzgJRgvyxyniq6nAcvQjJqSZm6pYV4zvx6qdpFxYWQUGZ2XlLJWUV1UX1TWotDaHQQ3WOAyGI2eYxgdjW7k8EFKAHd-IEgmsMptNiAIkA

Repro steps

Simply create a function that returns a React function component. This is completely valid code.

How often does this bug happen?

Every time

What version of React are you using?

19