So it is possible for a conforming program to be non-parallelizable, due to holes in the default data localization rules, despite the name of the construct and the obvious intent of the long list of restrictions imposed on code in the construct.
I summarized the two specific problems in https://github.com/llvm/llvm-project/blob/main/flang/docs/Do....
Also, isn't your employer promoting do concurrent as a method of GPU parallelization? Has this been controversial within Nvidia?
Some features were removed from the standard, and modern compilers are much better at detecting errors (and are much stricter than they used to be by default), but all of them have a switch to make them work with random codes from the 1980s.
There is an awful lot of new features on top of that (things like first-class multidimensional arrays language-level parallelism, object orientation, modules, etc), but old software keeps working.