For a true spinner, you're correct, the ball would be spinning on one quite small spot. Think of the trick shot you see the pros do where they spin the ball and start it slowly down the lane. But you can't get that effect with any kind of release. Realistically, a track diameter in the 7-8" range is considered a "spinner" (see the link below). Theoretically that track could be located anywhere on the surface of the ball, but is almost always located with the fingers and thumb hole about 3-4" from the initial track ring. That gives a PAP location of about 3 1/2 - 4 1/2" over with usually a substantial positive vertical coordinate. Now, think of the center of that first track ring, which is the negative axis point (NAP). The PAP (positive axis point) is directly on the other side of the ball, or is the other end of the "axis" (think of an axle) that the ball rolls on. Picture a series of concentric circles around the NAP. All of these circles have the same PAP, but some have very small diameters and some have the full circumference of the ball (13 1/2") as the diameter. Some of these simply don't happen when a bowler releases the ball, but some do. It is quite possible to have a track with a horizontal PAP component in that 3 1/2 - 4 1/2" range with a diameter in the 10 1/2 - 11 1/2" range. That bowler has a low track but also low tilt and is not a spinner.
To visualize axis tilt, think of that true spinner with a dot touching the lane. The PAP will be pointing straight up. That's 90 degrees of tilt. Now think of the ball rolling on the same PAP but with a larger track diameter. Can you visualize that the PAP has now shifted down toward the lane from the top of the ball? So the track has less tilt (not necessarily less axis rotation, that's a different thing). And as the track gets larger and larger in diameter the PAP moves ever closer to the equator of the ball, which would be 0 degrees of tilt.
Another way to visualize rotation and tilt -- a bicycle's front wheel. When the bike is standing still and is straight up and down, you can rotate the front wheel. That's axis rotation. But you can also lean the bicycle over as you would when taking a curve so that the front wheel is no longer vertical. That's axis tilt. Hope this clears things up instead of making them even muddier. -- JohnP
https://www.buddiesproshop.com/36/Asymetrical_Layout_Guide.htm