It isn't false advertising, but it is shady advertising. BW actions are demonstrative of a company that is so wrapped up in the bottom line and these benchmarks they have set for themselves that they seem to have forgotten the greater picture of the customers.
If you read back through their posts on the matter (as infrequent as they may be), you can see that their focus is on, in no particular order, the servers. That's it. To me it's too much of an obsession about whether there will be too many servers, and whether or not server stability will be 100% A++ all through full release that it's affecting their capacity to provide a service so many people have paid in advance to use.
I will guarantee you that the servers will suffer issues over release. I will guarantee you that at some point there will be "under" populated servers and BW will feel that they have to merge (they shouldn't) and I guarantee there will be servers that are literally busting at the seams and because of that there will be wait times with queues. If you can come up with an algorithm that without fail will predict human selection regarding video games, please call me and let me get in on that lottery ticket because we will never have to work for 5 lifetimes.
What I think BW needs to do is to show less trepidation and more motivation; be more decisive and put your front men (or women) out there to do their job and handle the public as it is. This walling up, trickling out information and showing fear of pushing the big red button to start the game is really silly and it's a corporate policy that will restrict this game's potential.