In Folland's second edition of Real Analysis, part of Proposition 5.2 (paraphrased) reads:
Let $\mathcal X$ and $\mathcal Y$ be normed vector spaces and $T:\mathcal X\to\mathcal Y$ a linear map. If $T$ is continuous at $0$, then $T$ is bounded.
His proof is as follows:
If $T$ is continuous at $0\in\mathcal X$, there is a neighborhood $U$ of $0$ such that $T(U)\subset\{y\in\mathcal Y:\|y\|\leq1\}$, and $U$ must contain a ball $B=\{x\in\mathcal X:\|x\|\leq\delta\}$ about $0$; thus $\|Tx\|\leq1$ when $\|x\|\leq\delta$. Since $T$ commutes with scalar multiplication, it follows that $\|Tx\|\leq a\delta^{-1}$ whenever $\|x\|\leq a$, that is, $\color{red}{\|Tx\|\leq\delta^{-1}\|x\|}$.
I do not understand how the highlighted part was obtained since $\|x\|\leq a$ (It would make sense to me if $\|x\|\geq a$.).
For the last conclusion, consider that $$|T(x)| \leq a\delta^{-1} \text{ whenever } |x| \leq a$$ $$\text{implies}$$ $$|T(x)| \leq |x| \delta^{-1} \text{ whenever } |x| \leq|x|$$ Since $|x| \leq |x|$ is always the case, Folland's logic is solid.
But I think more important is your intuition that the proof is somehow funky. The introduction of $a$ is not necessary at all.
When Folland reasons based on $T$ commuting with scalar multiplication, he's saying that any big vector is a scalar times a vector in the $\delta$ neighborhood of $0$. That is, write $$x = |x|\delta^{-1}x_\delta$$ where $x_\delta$ is the vector of length $\delta$ pointing in the same direction as $x$.
Then from what Folland already established using the definition of continuity at $0$, $$|T(x)| =T(|x|\delta^{-1}x_\delta) = |x|\delta^{-1}|T(x_\delta)| \leq |x|\delta^{-1}$$ This was all implicit in Folland's reasoning, and could be the end of the proof, but instead he obscures the proof. He trivially generalizes to $|x|\delta^{-1} \leq a \delta^{-1}$ whenever $|x| \leq a$, and then returns to the proper conclusion by specializing to the case |x| = a.