It's statistically guaranteed to fail, and IRC as a protocol spec is powerless to do anything other than shrug.
It's a social protocol.
The most obvious version of this is a netsplit, but even single users can get isolated from the network and have all of their messages dropped without realizing it until minutes later (if ever). There's no cool name for that; it's just IRC being unreliable.
Maybe unreliability is part of the charm for you, but that bug is absolutely not a feature, and not intrinsic to being a "social protocol."
You do however get informed by the server after a netsplit has occurred... and key-up retains most of what you have said recently so achieving coherency isn't difficult, although a manual task.
I did change careers to escape that...
Now in a real life situation you can mishear or fail to hear. But technology can make this better.
I might not want a 24/7 archive. Especially not for all the silly things I said in my teens.
While this is certainly the initial deployment scenario, there's no reason in principle why you couldn't develop a server that natively supports that extension.