> Location Services is still enabled, Apple devices (like Apple Watch and Pencil) stay connected, and services such as Handoff and Instant Hotspot stay on.
> The only way to turn off the Wi-Fi and Bluetooth radios...
The GP is right that it's weird that Apple Watch stays connected when you ask for a disconnect, but Apple Earbuds do not.
They probably made this exception because unlike the pencil or watch, this is something that “takes control” of a system component (your audio output). It likely made more sense to disconnect them in this case.
I would expect BT devices to be turned off. BUT Apple’s rationale for faux turning off in control center is so they can maintain Apple services, so I would expect EarPods to stay on under their new ridiculous regime of “Off means On”.