It is undefined, but the trigger "on item get" does have the value, is this by design or I'm doing something wrong? The "exists" trigger does have the value too.
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Why do you need this value in "On item set"? This event is triggered immediately after "Set item" action. So you should still have this value stored in a variable (or array/dictionary/etc.), you don't need to read it back from local storage.
I wanted to make the UI reactive to updates to localStorage.
But I mean, if the other methods have the value, I think onItemSet should too.