Yeah but once per page, which is why it is okay to disable cache as the author wanted to simulate a cold load of each of those pages.
The only case when this code gets loaded is the literally the first cold load of the entire site — and it's only used for powering live editable interactive sandboxes (surely you'd expect a in-browser development environment to require some client-side code). It doesn't block the initial rendering of the page.
What is the problem?
Also, FWIW, OP is one of the authors of react.dev and a member of the react core team (not that it's relevant to the objection).