A rotating escutcheon is a security escutcheon with a ring or collar in front of the lock cylinder that spins freely. If someone tries to grip the cylinder with a tool or drill it, the collar just spins and the tool cannot find anything to bite on.
It is the most common version on the front doors of homes, because it leaves only the keyway of the cylinder on show and works with your normal key, with no extra steps.
On the coast the spinning collar can seize up with salt and stop turning, and then it loses part of its purpose. A quality finish is worth having, and it is a good idea to check from time to time that it turns smoothly with your finger. More under escutcheon installation.