OK, he's wrong. The states did not create the federal government, the people did. The Constitution reads, "We the People" not "We the States". And it was the People of the United States that created it, not the people of Virginia and Pennsylvania and South Carolina.
Also, Ronald Reagan knew that the states were sovereign only within the bounds of the Constituiton and only in those areas that the Constition allowed them. Specifically only in those areas not reserved to the United States of forbidden to the states. And deciding the status of a state is a power reserved to the United States.
But.....that isn't what he said.
Interesting theory, but the people of Rhode Island and North Carolina did not. How do they fit into your theory?