This is unusual in the general (non-reciprocal) case because we need an extra instruction, but that should be better for general FP reassociation and codegen. We conservatively check for "arcp" FMF here as we do with existing fdiv folds, but it is not strictly necessary to have that.
This is part of solving:
https://llvm.org/PR49147
(The powi variant potentially has a different constraint.)
Might be worth duplicating the test with reassoc missing instead?