make_rules adds inclusion tools/build/Rules.axis to the makefile. The rules file is a central part of the build system, so you probably want to use it unless you are writing a script for other purpose than building the software for a product.
Use the old rules file, apps/Rules.elinux, of the specified revision instead of the new rules file, tools/build/Rules.axis. This option is deprecated and it only exists for compatibility with old scripts. This option may go away in future versions, so do not use it unless you really have to!