I'm surprised that none of the compilers optimized this benchmark away completely...
I don't know any compiler (and language implementation) that can do that, though.
In general programmers are pretty good about not kicking off expensive computations they don't need to, so the easy pickings here are probably pretty small. And as soon as there are any side effects at all (which includes any writes to shared memory) it becomes very hard to reason about moving computation from one thread to another. So it's easy to see why compiler writers are not super excited to start optimizing across concurrent threads.