[ 2017-03-02, Kona, STL comments and provides wording ]
We talked about this in LWG, and I talked to Alisdair. The status quo is already maximally general (operator less-than in Core always forms a composite pointer type), but we can use diamond-less to significantly simplify the specification. (We can't use less-than directly, due to the total ordering issue, which diamond-less was recently "upgraded" to handle.)