I would be much more impressed if I hadn't taken a compilers course. I reckon (god alone knows exactly what GCC does) this is just linear induction variable substitution[1] (so `x` gets replace with `i*2`), then associativity of integer multiplication, then some (probably builtin) rule that `n%n` is always 0. From there, it is pretty straightforward.
Don't get me wrong - the devil is in the details and getting optimizations that are both powerful and only applied when they are valid, and at the right time is difficult as hell. That said, I do expect compilers to be at least this smart.
[1]: https://en.wikipedia.org/wiki/Induction_variable#Induction_v...