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How does "local history" interact with the other developers on the project?

Now what happens when you are working with one other person using only local history support? What about ten people? What if someone is a bozo programmer and screws up your code accidentally?

Do not generalize here, what if he is working alone?

Git is not just about git diff. For example, it gives you the ability to find which changeset introduced a regression by doing a binary search on the history and running tests automatically on each revision. The culprit could be a change made months ago.

To do so on an IDE with local history, you'd have to Ctrl-Z backwards all changes (not meaningful commits, but even small changes) linearly.

You don't know what you're missing

That seems like it probably is a passable solution for simple linear history (in certain, single-developer, contexts), but it doesn't sound like it offers much for branching, which I would think you would often end up wanting with most real software even in single-developer set ups.

Oh come now, that's just an extra safety net.

Don't take IDEA local history as a replacement to version control, rather a supplement.