In Table 95 in [input.iterators], it is specified that the expression *a returns reference, which must be convertible to value_type. This is not true for move-only types, which incidentally means that std::vector<std::unique_ptr<int>> does not possess even a lowly InputIterator, which is, of course, absurd.
With the advent of concepts as first-class citizens in the language, getting this right as soon as possible is a priority.
This issue seems to be similar to both LWG 448 and LWG 484, but not the same.
The proposed resolution stems from two considerations outlined below:
Convertibility is too strong for all algorithms
No algorithm in the standard library requires convertibility to value_type. If algorithms require things that smell of that, they specify the assignment or constructibility flavor they need directly. I checked this by going through the specification of each and every one of them in <algorithm> and <numeric>, which highlighted several issues unrelated to this one. These issues are presented in Algorithms with underspecified iterator requirements (LWG 2963).
reference needs to be related to value_type
Algorithms need this for the following reasons:
lifetime-extension: served as adequately by T const& as by T. Also works for iterators that return by value. T&& also correctly binds to T const&.
passing to predicates: again, served adequately by T const&
writing to *result: not provided by the requirement anyway.
capture-by-copy: currently implicitly guaranteed, but unused in the standard library (always specified separately). A separate specification can always be made for algorithms that need to capture-by-copy.
We must give due consideration to code that so far required its inputs to be CopyConstructible implicitly by requiring convertibility to T. This is done in the issue LWG 2963, which presents the results of a comb-through of <algorithm> and <numeric> to find algorithms that have this requirement, but where it is not specified. While related issues have been identified, no algorithms seems to require more than T const& convertibility without separately requiring convertibility to T.
Since such code is already compiling today, relaxing this requirement does not break code.
The only code this could possibly break is if, in a concept checking library, the InputIterator concept requirement on reference being convertible to value_type gets relaxed. Such a library, if it offered overloading based on most-specific modeled concept, could now, once fixed, resolve the call to a different algorithm, which could break user code that uses a hypothetical algorithm with a move-only container and was relying to select some other overload for move-only types based on the implicit CopyConstructible assertion provided by the iterator.
In our internal concepts-checking library, we have had this issue "fixed" since the very beginning — move-only types were too important for our internal algorithms library, and also no algorithm in it seems to require something like Iterator::value_type x = *first without also requiring copy-constructibility anyway.