What I love about this is back in the archaic days when car radios had (mechanical) radio buttons, that was the introductory example of a tiny state machine. They were also used in other devices but the car radio was the application everybody had seen. Nowadays I imagine only a small proportion of people who deploy "radio buttons" have even seen such a car radio, so the metaphor is now empty, like the floppy disk ico…
I did have a tape player with buttons (play / rewind / stop / etc) that, when pushed, unpushed the other buttons. So I have a mental model for buttons of that kind. But I've never associated them with a radio.
Also, I've never associated the radio selector HTML element with a button (HTML or otherwise). Buttons are about triggering effects. But radio selectors are about selecting something; they have more in common with checkboxes.