Cleeds,
Imagine that you are the stylus tip. With the arm wand parallel to the LP surface, someone has set VTF for 1.5gm. Now imagine that you encounter a record warp that lifts you up in the air by a few mm during each revolution of the LP. Since you are subject to gravity, you come back down on the other side of the warp, but during the moment when the warp elevates you off the horizontal, the pull of gravity is still perpendicular to the plane of the LP surface. Yet the tonearm is fixed at its pivot, so your journey back to horizontal must travel in the vertical arc dictated by the tonearm; the stylus tip (you) cannot follow the true vertical. Therefore, some of the force of gravity in the vertical plane is momentarily bled off by a smaller force due to resistance supplied by the tonearm, a force vector generated because the tonearm does not let the cartridge fall back down vertically. Hence "net" VTF is momentarily reduced by a small fraction. Got it now?
If you don't believe me, and if you have an accurate digital gauge, check VTF when you have the cartridge in the plane of a typical LP and then again with the tonearm elevated by a cm or two above the horizontal. I think the difference might be detectable even in these two static situations.
Another way to think of it: Imagine that the tonearm has unlimited travel in the vertical plane. It could then point straight up at the ceiling. What would be the VTF in that case? Zero.