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.IsArgSet("-dustrelayfee"))
    {
        CAmount n = 0;
        if (!ParseMoney(gArgs.GetArg("-dustrelayfee", ""), n))
            return InitError(AmountErrMsg("dustrelayfee", gArgs.GetArg("-dustrelayfee", "")).translated);
        dustRelayFee = CFeeRate(n);
    }
    fRequireStandard = !gArgs.GetBoolArg("-acceptnonstdtxn", !chainparams.RequireStandard());
    if (!chainparams.IsTestChain() && !fRequireStandard) {
        return InitError(strprintf("acceptnonstdtxn is not currently supported for %s chain", chainparams.NetworkIDString()));
    }
    nBytesPerSigOp = gArgs.GetArg("-bytespersigop", nBytesPerSigOp);
    if (!g_wallet_init_interface.ParameterInteraction()) return false;
    fIsBareMultisigStd = gArgs.GetBoolArg("-permitbaremultisig", DEFAULT_PERMIT_BAREMULTISIG);
    fAcceptDatacarrier = gArgs.GetBoolArg("-datacarrier", DEFAULT_ACCEPT_DATACARRIER);
    nMaxDatacarrierBytes = gArgs.GetArg("-datacarriersize", nMaxDatacarrierBytes);
    
    SetMockTime(gArgs.GetArg("-mocktime", 0)); 
    if (gArgs.GetBoolArg("-peerbloomfilters", DEFAULT_PEERBLOOMFILTERS))
        nLocalServices = ServiceFlags(nLocalServices | NODE_BLOOM);
    if (gArgs.GetArg("-rpcserialversion", DEFAULT_RPC_SERIALIZE_VERSION) < 0)
        return InitError("rpcserialversion must be non-negative.");
    if (gArgs.GetArg("-rpcserialversion", DEFAULT_RPC_SERIALIZE_VERSION) > 1)
        return InitError("unknown rpcserialversion requested.");
    nMaxTipAge = gArgs.GetArg("-maxtipage", DEFAULT_MAX_TIP_AGE);
    return true;
}
static bool LockDataDirectory(bool probeOnly)