Is this a bug report?

Yes.

Have you read the Contributing Guidelines?

Yes.

Environment

1. react-native 0.48.0
2. node 8.4.0
3. npm 5.4.0
4. `yarn 0.27.5

Then, specify:

• Target Platform:

• Development Operating System: Mac OS Sierra 10.12.6

• Build tools: iOS

Steps to Reproduce

(Write your steps here:)

1. react-native init TestProject
2. cd TestProject
3. react-native run-ios

Expected Behavior

It should run as the example in the docs.

I would like to ask that did you really test the release (with simple init command) before releasing? Yes I know RN is currently in heavy development but since 0.46 there are many breaking changes and init command is a fundamental feature, it shouldn't be ignored.

Actual Behavior

Same with #15762