Right. Most of the world doesn't even have 5G yet. Besides no matter how fast you get with internet, its still internet. There is still latency which makes for a frustrating UX.
I wouldn't want to be fully cloud based even if I had free internet for life. That's a recipe for disaster. The best thing about local stuff is...that it's local. I don't need an internet to access it. That's extremely convenient.
But putting that aside there's still cost of running things live (outside the internet cost). And why would I want to pay extra for something I can easily run on my machine locally? Live is for production code that multiple people will access. Local is good enough for me.
I would even prefer to self host most of the stuff locally on a Raspberry Pi or something instead of a cloud hosting. It's just so reliable.