threading.local in all aspects is thread local data.
You can still pass data attached to threading.local to another thread. Another thread may be able to get at threading.local data with setattr(). There's no isolation, so all the locking is still needed.
This is a hard problem. There's real thread-local data in C and C++, but it's not safe. If you pass a pointer to something on the stack to another thread, the address is invalid and the thread will probably crash trying to access it. C++ tries to prevent you from creating a reference to the stack, but the protection isn't airtight. In Rust, the compiler knows what's thread-local, as a consequence of the ownership system. Go kind of punts; data can be shared between coroutines, but the memory allocation system is mostly thread-safe. Mostly. Go's dicts are not thread-safe, and there's an exploit involving slice descriptor race conditions.
You can still pass data attached to threading.local to another thread. Another thread may be able to get at threading.local data with setattr(). There's no isolation, so all the locking is still needed.
This is a hard problem. There's real thread-local data in C and C++, but it's not safe. If you pass a pointer to something on the stack to another thread, the address is invalid and the thread will probably crash trying to access it. C++ tries to prevent you from creating a reference to the stack, but the protection isn't airtight. In Rust, the compiler knows what's thread-local, as a consequence of the ownership system. Go kind of punts; data can be shared between coroutines, but the memory allocation system is mostly thread-safe. Mostly. Go's dicts are not thread-safe, and there's an exploit involving slice descriptor race conditions.