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I think the biggest addition is ES2015 modules.

Webpack now understands them without the need to convert them to commonjs/amd.

import works statically (before the JS is run), which allows webpack to make some optimizations.

(System.import() is used for dynamic (runtime) imports)

There is also a config validation, which is a good thing.

I guess most of the changes are 'under the hood', but there are some breaking changes in configuration as well.

"loaders" => "rules" etc.

There's a list from the start of the year here: