Hmm, true indeed. Hell, I've had so many drinks I'm going to try to explain it!
Good illustration for sure...
The speed of the circle is determining the frequency. You could look at the circle as the microphone and the wave as the speaker cone. Often there is a delay between the speaker cone and the microphone. To make matters more complicated, this delay is frequency dependent. It can go up and down at different frequency ranges, but tends to increase as frequency rises.
Now imagine this single frequency of the circle superimposed with 20,000 additional frequencies and the harmonics of those frequencies all happening at the same time.
Since the speaker has a phase angle (that can be plotted) which deviates from perfect throughout the frequency range at a single frequency, you have to wonder what happens when the speaker is asked to play a bass note with a phase angle delay of say 70 degrees, and a midrange note with a phase angle delay of 10 degrees and a treble note with a phase angle delay of 150 degrees.... which phase angle does it choose at any given second in time?
Now imagine those three simultaneous frequencies multiplied by 1000's to make up a complex transmission called music.
When we look at a phase angle plot such as the one below -

All we can really conclude is that 100 cycle notes (in this graph) are delayed in time by about 50 degrees... making instruments that fall into that tuning sound like they are farther back in the sound stage than actually intended by the recording.
So phase angle is all about imaging, and sound stage front to back placement. I can remember studies being done where blind listening tests concluded the average person couldn't tell a speaker had been moved until the distance was almost 10 feet, and my guess is it had to do more with loudness than timing.
You can calculate the degrees of delay to inches based on the speed of sound and I have found it is generally better to have an overall phase angle that decays so that as you move into higher frequencies the decay is longer. This gives a nice illusion of depth.
Steve