With streaming on demand music there is no real need to do that anymore.
The hardware exists. In the 80s it was analog cassette tape. Around 2005, my hauppauge pvr250 could tune FM stations and time shift them. I had several mp3 players that could use rockbox software to time shift fm radio.
The fm recording niche was very small, so there was not much demand and manufacturers never put the hardware together for devices that were constantly getting cheaper.
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