Can time fleet?

I was listening to a song and there was the line "time's fleeting away" which struck me as wrong by ear. I always thought that fleeting was exclusively an adjective and not a verb, but I am not positive. Was the line in the song wrong?


To fleet can be a intransitive verb according to M-W:

intransitive verb.
1 obsolete :  drift
2a archaic :  flow
2b :  to fade away :  vanish