Why the function call in pipe expression needs to wrap parentheses now?

module Codec = {
  type encode<'v> = 'v => Js.Json.t
  type decode<'v> = Js.Json.t => result<'v, exn>
  type t<'v> = {
    encode: encode<'v>,
    decode: decode<'v>,
  }

  let make = (encode, decode) => {encode: encode, decode: decode}

  let encode = codec => codec.encode
  // let encodeString = (codec, value) => (codec->encode)(value)->Js.Json.stringify
  let encodeString = (codec, value) => codec->encode(value)->Js.Json.stringify

  let decode = codec => codec.decode
}

The code let encodeString = (codec, value) => codec->encode(value)->Js.Json.stringify is able to be compiled in version v10 but not in v11.
issue here