I feel like this aligns with what "airplane" mode should be. I find it annoying when I turn on airplane mode and it disables my bluetooth and I have to re-enable it (Android X/Api 29 and below)
The default is:
adb settings put global airplane_mode_radios cell,bluetooth,wifi,nfc,wimax
I have mine set to:
adb settings put global airplane_mode_radios cell,wifi,wimax