I think the terminology is confusing. By "bottom up" I mean visiting
the leaves of an expression tree first like in BURS
(BURS - Wikipedia). This is "bottom up" if you draw
your trees with the root at the top. For the expression (fadd (fmul a,
b), c) it would visit the mul before the add. I think simplifying
things in this order is sane because when you visit a node, you can
assume that the operands of that node have already been simplified.
In my defence I think I got this definition from earlier discussions
about the order in which DAGCombiner runs:
https://reviews.llvm.org/D33587#1372912
Unfortunately if you think of textual IR in a basic block, then
"bottom up" order starts at the top of the block and proceeds towards
the bottom 
%mul = fmul float %a, %b
%add = fadd float %mul, %c
A quick experiment shows that InstCombine is bottom-up:
$ cat z.ll
define float @main(float %a, float %b, float %c, float %d, float %e) {
%add = fadd float %a, %b
%sub = fsub float %add, %c
%mul = fmul float %sub, %d
%div = fdiv float %mul, %e
ret float %div
}
$ opt -instcombine -debug-only=instcombine z.ll
IC: Visiting: %add = fadd float %a, %b
IC: Visiting: %sub = fsub float %add, %c
IC: Visiting: %mul = fmul float %sub, %d
IC: Visiting: %div = fdiv float %mul, %e
DAGCombiner is top-down, which I think is wrong but it's hard to fix:
$ llc -march=aarch64 -debug-only=dagcombine z.ll
Combining: t14: f32 = fdiv t13, t10
Combining: t13: f32 = fmul t12, t8
Combining: t12: f32 = fsub t11, t6
Combining: t11: f32 = fadd t2, t4
I'm happy to see that GISel Combiner is bottom-up after all:
$ llc -march=aarch64 -global-isel -debug-only=gi-combiner z.ll
Try combining %5:_(s32) = G_FADD %0:_, %1:_
Try combining %6:_(s32) = G_FSUB %5:_, %2:_
Try combining %7:_(s32) = G_FMUL %6:_, %3:_
Try combining %8:_(s32) = G_FDIV %7:_, %4:_
Sorry if I have derailed your original questions Dominik. I think the
answers are "yes you have to teach your larger pattern to handle this
case" and "no there are no plans to improve this behaviour as far as I
know, and I'm not even sure how it would be improved".
Jay.
Jay.