P3375 is mainly about contraction, but there's other issues that can crop up. Intermediate promotion occasionally happens and I've also seen cases of intermediate expressions optimized down to constants without rounding error. Autovectorization is also a problem for me given the tendency of certain SIMD units to have FTZ set. I also have certain compilers that are less well-behaved than GCC and Clang in this respect.
My concern isn't accuracy though. Compilers do that fine, no need to second guess them. My hot take is that accuracy is relatively unimportant in most cases. Most code is written by people who have never read a numerical analysis book in their life and built without a full awareness of the compiler flags they're using or what those flags mean for their program. That largely works out because small errors are not usually detectable in high level program behavior except as a consequence of non-reproducibility. I would much rather accept a small amount of rounding error than deal with reproducibility issues across all the hardware I work on.