This behaviour was introduced in a687d98e67 to bring the old obscure
"M" operator to remove objects from the local view. In order to avoid
the keymap clash with the Move to Collection operator, the Move to
Collection was artificially restricted to work in local view.
In retrospect, the "Remove from Local View" operator is in the menu anyways,
so it didn't even need to have a shortcut (back in 2.79 the operator was
not in a menu).
The changes introduced here are:
* No shortcut for "Remove from Local View"
* No more restrictions to "Move/Link to Collection" from local view.
Thanks for Philipp Oeser for digging the old commit that introduced this
and for the rationale on the changes.