If the user runs: bitcoind -connect=X -seednode=Y, I think it is safe to ignore -seednode. A more populated addrman (via getaddr calls to peers in -seednode) is not useful in this configuration: addrman entries are used to initiate new outbound connections when slots are open, or to open feeler connections and keep addrman from getting stale. This is all done in a part of ThreadOpenConnections (below this line) which is never executed when -connect is supplied. With -connect, ThreadOpenConnections will run this loop and exit thread execution when interrupted.
Reviewers may also find it relevant that when -connect is used, we soft disable -dnsseed in init.cpp perhaps for the same reason i.e. seeding is not useful with -connect.
Running ProcessAddrFetch does not seem to have downside except developer confusion AFAICT. I was confused by this and felt it might affect other new bitcoiners too. If there is strong preference to not remove the line, I’d also be happy to just leave a comment there mentioning ADDR_FETCH/-seednode is irrelevant when used with -connect.
If this change is accepted, the node will still make getaddr calls to peers in -connect and expand addrman. However, disabling those getaddr calls would leak information about the node’s configuration.