It is read-only, not write protected:)
I am joking, but we use the read-only property to create non-updatable indeces and perform other optimization that would be impossible to do if there could be updates, appends, inserts etc. into the table.
Now, if the read-only statement means also that you can not drop the table, that is debatable.
Trying creating a table, add one row of values, then make it a read-only and then try to drop it. My bet is it will not be dropped. Then try to delete the row while the table is still read-only, you should not be able.
Lefteris