Especially since, as a pilot, I know the term is not point of inertia. It's 'moment of inertia'...holy cow.
I don't believe he was using the word "point" as a location in space. I think he intended something more like the concept of inertia, as in the effects of inertia were not considered.
Whether or not they were, I don't know.
From my college Physics book (Modern University Physics, Part 1 Mechanics and Thermodynamics. by Richards, Sears, Wehr, Zemansky, 1960) It was a few years old when I took the course.
p186
"That is, for rotation about a fixed axis, moment of inertia I is analogous to mass
m (or inertia), and angular velocity (lower case letter omega) is analogous to linear velocity
v."
(I don't know how to get a lower case Omega on this keyboard.)
Then they have an example.
p187
"This illustrates the important fact that the moment of inertia of a body, unlike its mass, is not a unique property of the body but depends on the axis about which it is computed."
Clear to everyone?