Earlier quoted context omitted.
> It is curious to see how bash is mentioned everywhere, while the real culprit is the interaction between some web server and bash. The web server side only comes into play for remote exploits. It is locally exploitable too (though the potential for useful exploits that way is lower, it is still a significant risk).
Care to elaborate? AFAIK this bug is about remote execution, not about privilege escalation. The reason is that the shell would be run with the same privileges as the user who is setting the ENV variables, and only privileged users should be able to set system-wide ENV vars.
A malicious user with access to certain commands via sudo or similar could potentially use this to gain further access.