What compiler might that be?
It's true that MSVC doesn't have an equivalent of -fno-strict-aliasing, but that's because it just doesn't apply optimizations that assume strict aliasing in the first place. Admittedly the picture around signed overflow is more complicated, but it's essentially the same story.
> Using these C dialects is a perfectly sensible thing to do, as long as you understand that this is what you are doing.
I suppose that they technically are C dialects, but it seem more than a bit absurd to put it like that -- at least to me. By that standard the Linux kernel isn't written in C. And Firefox isn't written in C++. Postgres also wouldn't count as according-to-hoyle C under your definition. Even though Postgres compiles when -fwrapv and -fno-strict-aliasing are removed, and still passes all tests.
The implication of what you're saying seems to be that all of these open source projects each independently decided to "go there own way". I find it far more natural to explain the situation as one of GCC diverging when it decided to make -fstrict-aliasing the default around 15 years ago.