True, RCA connectors are "coaxial".
But the coaxial being refered to here, is coaxial cable, meaning there is a signal conductor in the exact center with outer shield as the return conductor.
Video and digitial audio coaxial connections are usually specified at a 75ohm impedance, and this type of construction allows for that.
Some people use 75ohm coaxial cables for analog audio, but it is not optimum. Many good analog audio cables use a twisted pair for the signal, and a third grounded shield, which serves only as shielding and does not carry the audio signal.
Actually, the correct 75ohm connector that should be used with video and digital audio coaxial cables is the BNC connector, as it is a true 75ohm connector (although several companies claim their RCAs are 75ohm!) This is what is used on professional equipment, but unfortunately, the very ancient RCA audio connections also became the standard connection for consumer video/digital coaxial.