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 (gArgs.SoftSetBoolArg("-discover", false))
            LogPrintf("%s: parameter interaction: -proxy set -> setting -discover=0\n", __func__);
    }
    if (!gArgs.GetBoolArg("-listen", DEFAULT_LISTEN)) {
        
        if (gArgs.SoftSetBoolArg("-upnp", false))
            LogPrintf("%s: parameter interaction: -listen=0 -> setting -upnp=0\n", __func__);
        if (gArgs.SoftSetBoolArg("-discover", false))
            LogPrintf("%s: parameter interaction: -listen=0 -> setting -discover=0\n", __func__);
        if (gArgs.SoftSetBoolArg("-listenonion", false))
            LogPrintf("%s: parameter interaction: -listen=0 -> setting -listenonion=0\n", __func__);
    }
    if (gArgs.IsArgSet("-externalip")) {
        
        if (gArgs.SoftSetBoolArg("-discover", false))
            LogPrintf("%s: parameter interaction: -externalip set -> setting -discover=0\n", __func__);
    }
    
    if (gArgs.GetBoolArg("-blocksonly", DEFAULT_BLOCKSONLY)) {
        if (gArgs.SoftSetBoolArg("-whitelistrelay", false))
            LogPrintf("%s: parameter interaction: -blocksonly=1 -> setting -whitelistrelay=0\n", __func__);
    }
    
    if (gArgs.GetBoolArg("-whitelistforcerelay", DEFAULT_WHITELISTFORCERELAY)) {
        if (gArgs.SoftSetBoolArg("-whitelistrelay", true))
            LogPrintf("%s: parameter interaction: -whitelistforcerelay=1 -> setting -whitelistrelay=1\n", __func__);
    }
}
/**
 * Initialize global loggers.