That's not the issue here at all. The IEEE 754 standard does in principle make floating-point operations completely deterministic, i.e. if you do a specific sequence of floating-point operations, then the result may indeed be slightly off from the result you would expect with infinite precision arithmetic, but it should be off in just the same way every time. For example (x + 0.1) + 0.1 and x + 0.2 can give different results due to rounding, but the respective result should be constant for a given x regardless of the machine, compiler, or phase of the moon. Knowing this, there are situations where exact comparisons are appropriate.

The "bug" here is that a single operation x + 0.1 and x + 0.1 can give two different results depending on the mood of the compiler.

It's not actually a bug, because the IEEE 754 standard permits this kind of sloppiness by default. You can get stricter semantics, but you have to ask for it explicitly by setting the right compiler flags. This is why I say that the IEEE 754 standard makes floating-point arithmetic deterministic "in principle" - in practice, you have to work for it. (Changes to the rounding mode are another big issue here.)

An extra error of 1 ulp somewhere might not seem like much for your average numerical code, but it's a big deal in some situations:

* Assumptions about the precise behavior of floating-point cancellations are often used in numerical libraries, and deviations can cause disastrous loss of accuracy. For example, Kahan summation is a widely used algorithm for computing sums with increased accuracy. If compilers optimize the code too aggressively, the algorithm doesn't work and you get worse accuracy. And ironically, x87 long doubles can make general numerical calculations less accurate (not more accurate as intended) due to the double rounding issue.

* If you use floats in game logic, you might want it to behave exactly the same way on different platforms, e.g. for synchronization or replays.

* In scientific computing, you might want results to be precisely reproducible by others.

* Debugging!