I bet it would work just fine, but it would need some modifications. Just look at its metal cutting counterparts. Step back, and think about the differences. First, it is too fast and the blade is too floppy. Modification: use a smaller blade, and those disks to stiffen the blade. Second, the saw can climb or throw the piece it is cutting. Modification: control the movable saw head and the metal. The table will need real T-slots and clamps. The flimsy wood fence will need to be replaced with something a little stronger. The saw itself should not be fed by hand. Screw or lever feed only, and the backlash must be controlled. Third, rigidity of the arm is not sufficient. Modification: a restraining bracket that mounts solidly to the front of the table. This will cut down the size of the pieces that you can cut, but a metal saw which can cut huge pieces should weigh a few hundred pounds or more, and the radial arm saw just isn't quite there.
Leverage your knowledge from machine tools, and you will be able to figure out where you need to make modifications by yourself. There are some commercial examples that you can surf on the Internet for ideas, but for some odd reason, there don't seem to be any hobby machinist versions. I have seen a couple in youtube videos, but the makers said that they didn't work well. As for an unmodified radial arm saw, I wouldn't do it.