When accessing memory, is there also microcode dealing with generating a pagefault when the address is invalid?
(And yes, I'm still waiting with bated breath to see the teardown of the machine that implements this ridiculous bus.)
So indeed, if nothing does anything, #READY will go active automatically, simultaneously with the data lines (not!) being driven, and the CPU will sample junk.
Which is to say: IBM had to add a bunch of hardware to the board just to synthesize a default/ignore behavior for this line, which wouldn't have been necessary had Intel done it right the first time.