Well, Greg KH emphatically states that local LLMs are more than good enough for bug finding in the Linux Kernel. [0] Seems strong enough for the task to me. [1]
He goes on to recommend that one uses local LLMs exclusively for bug finding because he and his colleagues have seen multiple occasions where folks who used the LLMs provided by the Major LLM Manufacturers had the stuff they were working on get "mysteriously" leaked.
Even if that sort of thing were not known to happen, it's just smart to not process data you want to keep secret in systems that are known to straight up retain user data and/or "anonymize" user data and send it back to their HQ for use in production of newer versions of their products.
[0] IIRC, it is this video: <https://www.youtube.com/watch?v=NnV_cWeoo5Q>
[1] And even if they're six months behind the latest publicly-available tools provided by the Major LLM Manufacturers, six months ago a notable subset of folks were on here screaming that their latest tools enabled fully-automated hands-off coding and had ushered in an era of Software Factories that were rapidly going to make all programmers obsolete. ;)