This free Excel download: Global_Local_RangeNames.xlsx (no macros), shows how removing a row in a calculation does not trigger a reference error!
Instead different values are substituted without any notification to the user.
System Requirements: Office for Windows: Office 365, 2021, 2019, 2016, 2013, or 2010 in Windows 11, 10, 8, 7 or in Windows virtual machine for Mac.