yes, kinda, we are describing the same thing, but with a different emphasis
how so, Ready delays all actions, that is not specific to spells / the Magic action
The verbiage in the rules glossary for "ready a spell"
This specifically calls out different mechanics than exist for spells thanor for any other Readied Actions including using a Ready Action to use the Magic Action for something other than a spell.
that is semantics, Ready delays your actual action until it becomes a reaction, it is not an action in and of itself.
It is an action in and of itself. This is spelled out clearly, it is listed on the table of Actions. From the PHB:
The Action table lists the game’s main actions, which are defined in more detail in the Rules Glossary.
"Ready" is one of the actions listed on the table. So not only is it an action it is one of the "games main actions"
Further in the rules glossary:
"You take the Ready action to wait for a particular circumstance before you act. To do so, you take this action on your turn"
For a sword swing there is no 'wind up' phase during your turn, for a spell there is
No there isn't. If it is an action spell the mechanics on your turn using a Magic Action are the same as using a Sword.
, Of course if the condition is not being met, you also wasted your Attack action or whatever other action you intended to take, that too is not a special case for the Magic action, the Magic action just needs a little more explanation for why you lost the spell slot (which you would not have had you not casted the spell at all)
It is not a special case for the Magic Action, it is a special case for casting a spell. Using Ready to do a Magic Action on a trigger for anything other than casting a spell (and there are lots of things) works exactly like it does for any other action.
Further it is not just the spell slot, it also requires Concentration. I can be concentrating on Protection from Good and Evil and cast Fireball on my turn just fine. I can not be concentrating on Protection from Good and Evil and ready fireball for when the Ghouls come around the corner. I would need to drop concentration to do that.
Finally it states that you "cast the spell" on your turn, that causes other things to happen on your turn, including the 2 spell slot rule if applicable, including counterspell and including any mechanics associated with casting a spell. For example:
1. If my high level Valor Bard readies an action to cast a spell, he gets to make an attack on his turn as a Bonus action through Battle Magic because he cast a spell on his turn.
2. If my Abjuration Wizard readies an Abjuration spell it charges my Ward or if a Divination Wizard readies a Divination spell it replenishes a spell slot
3. If my Glamor Bard redies an Illusion or an Enchantment then I cause a creature to save against Beguiling Magic on my turn, not when the trigger happens.
Those are just three examples off the top of my head. I am sure there is lots more. Those things happen when you cast the spell, which is on your turn when you ready a spell to be cast in response to a trigger off your turn.
So there is a whole lot more going on then just losing the spell slot.