There's barely any information on how netplay works. I have surface levels of networking knowledge, but form what I find out, theres no way to connect to a specific ip address, only other computes on the LAN by their hostname.
Also, why is there an option to connect to localhost? As far as I know, localhost only points to the local computer, so there's not really any point in that unless the same computer is running 2 instances of the game...
Feel free to correct me if I'm wrong about something I've said