Yes, Windows 11 Home will require an internet connection and Microsoft account on first startup.
Any idea yet what happens to those of us upgrading from Win 10 Home with a local account? Is this signaled before we finish the upgrade process or do we just get locked out?
How does that work on holidays? "Just" use mobile data?
It only requires an internet connection to setup. You can login with an Microsoft/'Online' account even when offline.