webpack - node_modulesを除外しないWebpack 3

Question

node_modules を除外できないため、ここで webpack.config.js の何が問題になっていますか。以前のバージョンの webpack でこの問題に関する同様の投稿を見つけましたが、構文が異なるため、修正は機能しません...

    module.exports = {
        context: __dirname,
        entry: './src/index.js',
        output: {
            path: __dirname + '/public/assets/',
            publicPath: '/assets/js/',
            filename: 'bundle.js'
        },

        module: {
            rules: [
                {
                    test: /\.css$/,
                    include: /src/,
                    exclude: /node_modules/,
                    use: [
                        {loader: 'style-loader'},
                        {loader: 'css-loader'}
                    ]
                },
                {
                    test: /\.ejs$/,
                    include: /src/,
                    exclude: /node_modules/,
                    use: [
                        {loader: 'ejs-simple-loader'}
                    ]
                },
                {
                    test: /\.js$/,
                    include: /src/,
                    exclude: /node_modules/,
                    use: [
                        {loader: 'jshint-loader'}
                    ]
                },
                {
                    test: /\.jsx$/,
                    include: /src/,
                    exclude: /node_modules/,
                    use: [
                        {loader: 'babel-loader'}
                    ]
                }
            ]
        }
    }