Replace esuild transpile with Babel

[JayaKrishnaNamburu]

With the current module generation, we are not using any steps for bundling. And so, it's safe to drop esbuild for transpiling and switch to babel. Because, esbuild doesn't yet support __jsx__ runtime from react@18
https://babeljs.io/repl/#?browsers=defaults&build=&builtIns=false&corejs=3.6&spec=false&loose=false&code_lz=GYVwdgxgLglg9mABAQQA6oBQEpEG8BQiiATgKZQjFIA8AFgIwB8AEqQDZtyIDqcxbAE2oB6BowDc-AL5A&debug=false&forceAllTransforms=false&shippedProposals=false&circleciRepo=&evaluate=false&fileSize=true&timeTravel=false&sourceType=module&lineWrap=true&presets=react&prettier=true&targets=&version=7.16.3&externalPlugins=&assumptions=%7B%7D