I think the wording on https://osm.wiki/Key:priority just needs to be fixed to match the other wiki pages. oneway=alternating is a well established tag and it's used on over 2000 one-lane-bridges

you're right that the literal meaning of the word 'oneway' seems wrong, but this is a common problem in OSM, see here for more info: https://osm.wiki/Counterintuitive_keys_and_values