Indeed! And even without this effect a rotating conductor would emit electromagnetic waves via the so-called dynamical Casimir effect.Here's a more fun problem for students:
If you spin the rod fast enough, ie create artificial gravity that is strong enough, the electrons will end up at the ends with more concentration there, giving rise to an electric field. The rotation would cause a magnetic field too, that can be calculated.
So a spinning rod is a magnet and a transmitter of radio waves. :tongue2: