The docs for `blocksonly` say that "Transactions from the wallet or RPC are not affected" but the code says:

    if (gArgs.GetBoolArg("-blocksonly", DEFAULT_BLOCKSONLY) && gArgs.SoftSetBoolArg("-walletbroadcast", false)) {
        LogPrintf("%s: parameter interaction: -blocksonly=1 -> setting -walletbroadcast=0\n", __func__);
    }

Here's the relevant documentation:

    -blocksonly
       Whether to reject transactions from network peers. Transactions from the
       wallet or RPC are not affected. (default: 0)

    -walletbroadcast
       Make the wallet broadcast transactions (default: 1)

Doesn't that imply that `blocksonly` *does* affect transactions from the wallet?

if (!addrProxy.IsValid())
            return InitError(strprintf(_("Invalid -proxy address or hostname: '%s'").translated, proxyArg));
        SetProxy(NET_IPV4, addrProxy);
        SetProxy(NET_IPV6, addrProxy);
        SetProxy(NET_ONION, addrProxy);
        SetNameProxy(addrProxy);
        SetReachable(NET_ONION, true); 
    }
    
    
    
    std::string onionArg = gArgs.GetArg("-onion", "");
    if (onionArg != "") {
        if (onionArg == "0") { 
            SetReachable(NET_ONION, false);
        } else {
            CService onionProxy;
            if (!Lookup(onionArg, onionProxy, 9050, fNameLookup)) {
                return InitError(strprintf(_("Invalid -onion address or hostname: '%s'").translated, onionArg));
            }
            proxyType addrOnion = proxyType(onionProxy, proxyRandomize);
            if (!addrOnion.IsValid())
                return InitError(strprintf(_("Invalid -onion address or hostname: '%s'").translated, onionArg));
            SetProxy(NET_ONION, addrOnion);
            SetReachable(NET_ONION, true);
        }
    }
    
    fListen = gArgs.GetBoolArg("-listen", DEFAULT_LISTEN);
    fDiscover = gArgs.GetBoolArg("-discover", true);