Record = record - not record disabled, not monitor input.
Needing to arm record a track to monitor an input on a computer DAW in 2019?
Almost laughable...
I think Pro Tools had an monitor input button nearly 20 years ago
Reaper: Where the recording light is illuminated: ready to record ...but we are not recording, or maybe we are recording, or maybe only monitoring, or maybe disabled recording.
The red record arm light on a track can mean : nothing at all !!!
SO futuristic...