That's not "premature optimization", that's unsafe, bug-producing optimization, which is definitely wrong, but, again, is just not what Knuth was talking about in that statement. "Premature" in this context means "before you've profiled your code", not "before you're sure it's safe to add to your compiler".
Those man-page disclaimers are often there because some user complained that they couldn't get gcc to give them whatever super-optimized thing that was valid for their own program but not safe in general, so the gcc people said "ok, take it, but don't come back to us when it breaks code". If one of the built-in opt levels like -O3 turns those on, that's wrong. If it exists, but the user has to ask for it explicitly, well, the man page warning speaks truly.