Seems like the problem was there for a while (Hot reloading (HMR) not working with functional components · Issue #10991 · facebook/react-native · GitHub). But it kind of got worse in SDK33, because hooks make you rely much more on functional components.
Any solutions?
I think not, not for now at least. Could not make it work and stoped trying. There is development and major progress in react-hot-loader itself https://twitter.com/dan_abramov/status/1140347053257744384?s=21 and It seems that native support is heading first, but to predict when it lands in expo is whole over story.
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