From a certain perspective, every post on meta fits the definition of too localized since they're all about "an extraordinarily narrow situation that is not generally applicable to the worldwide audience of the internet", namely, meta. With respect to meta, I suggest we drop the final clause. This would prevent bug reports from being closed as "too localized" simply because the bug is rare ("an extraordinarily narrow situation"). While you might choose to prioritize a bug (or reject the report as by design), ignoring it because it only affects a very small number of people would be wrong, IMO.
This question would only be relevant to a small geographic area or a specific moment in time.