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I understand a lot better now, thanks!

Local memory can also be handy in general-purpose computing - there's always some data that belongs to a given core that doesn't need to be consistent across shared memory.

Many MCUs / SoCs support DMA into tightly coupled memories. Very useful for "ping-pong buffering" to hide memory copying overhead - copying one buffer into a TCM bank while the processor works on a different TCM bank.