What exactly rotates along the lateral axis? Is 'rotate' mathematically correct?

Researching the etymology of 'rotate' (that OED lacks!), I chanced on Anas Maaz's Quora answer:

What many does not know is 'rotate' is just not a fancy word, but it involves a real physical rotation. When Rotation speed (Vr) is reached, the pilot pulls the control column which deflects the horizontal stabilizer, causing a rotation along the lateral axis of the airplane lifting up the nose wheel.

1. Am I correct that Maaz's referring to the 'lateral axis' in the diagram beneath? 1. Even if yes, what exactly ROTATES? How does the lateral axis ROTATE?

Imagine the wing on the y-axis and time on the x-axis, like the graph beneath. I don't think it's correct mathematically to state that an axis rotates, when it's the function that moves up as time passes? • An interesting mathematical subtlety is that in general, rotations occur in a plane as opposed to about axis. It just so happens that in 3D, a plane has an orthogonal axis. But there is not axis to a plane in 2D space, although you can rotate things to your heart's content. In 4D and higher, you get all kinds of weird. – MikeY May 20 at 16:47
• Note that the quote in your question does not say the axis rotates, but that the plane rotates along the axis. – TomMcW May 20 at 17:19