Damn these trickster designers and their shitty design decisions. That's exactly the opposite of what I thought it did.
You turned the Turbo mode off when you needed to run it slower, say for playing games.
So, technically the button did what it said, run faster in Turbo mode.
Some selectors would let you choose between 2 speeds, others had multiple speed selections. Often the higher ones would crash a lot more. There were also variable speed controls that acted like a rheostat with continuous speed changes. Those worked but were even more unstable.
So, unpressed button makes computer slower, not pressed one.
Source: actually used the button on my 386 SX 20/40 MHz
Maybe yours operated differently, but everything I can find about turbo buttons on the internet indicates that they operated as I remember them - your computer gets slower when you turn the button on. I specifically remember playing certain DOS games where, if I didn't activate the turbo button, the entire game would speed through at what felt like double or triple speed.
From wikipedia on Turbo button:
> On IBM PC compatible computers, the turbo button selects one of two run states: *the default normal speed or a reduced "turbo" speed*. It was relatively common on computers using the Intel 80286,[1] Intel 80386 and Intel 80486 processors,[2] from the mid 1980s to mid 1990s. The name is inspired by turbocharger, a device which increases an engine's power and efficiency. *Contrary to what it suggests, the "turbo" button was generally intended to let a computer run slower than the speed for which it had been designed when pressed.*[3]
Look, you read about it in wikipedia, but I actually lived with this computer for my whole childhood. I know for sure how the turbo button worked, because I actually used it to cheat in F1 and Lotus racing games.
Best I can find in 10m I dedicated to this is this video showing switch between 22 and 40 MHz modes with a turbo button (around 8:50): https://youtu.be/TdenDH7S8LM