This change enables vectorization of multiple exit loops when the exit count is statically computable. That requirement - shared with the rest of LV - in turn requires each exit to be analyzeable and to dominate the latch.
The majority of work to support this was done in a set of previous patches. In particular,, 72314466 avoids having multiple edges from the middle block to the exits, and 4b33b2387 which added support for non-latch single exit and multiple exits with a single exiting block. As a result, this change is basically just removing a bailout and adjusting some tests now that the prerequisite work is done and has stuck in tree for a bit.
IIUC the update logic for phis has been generalised already.