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Except it is illegal [http://www.ftc.gov/bcp/policystmt/ad-decept.htm] in the USA...
Read section II. THERE MUST BE A REPRESENTATION, OMISSION, OR PRACTICE THAT IS LIKELY TO MISLEAD THE CONSUMER.
Marketing and point-of-sales practices that are likely to mislead consumers are also deceptive. For instance, in bait and switch cases, a violation occurs when the offer to sell the product is not a bona fide offer.14 The Commission has also found deception where a sales representative misrepresented the purpose of the initial contact with customers.15 When a product is sold, there is an implied representation that the product is fit for the purposes for which it is sold. When it is not, deception occurs.16 There may be a concern about the way a product or service is marketed, such as where inaccurate or incomplete information is provided.17 A failure to perform services promised under a warranty or by contract can also be deceptive.18
So stating that your product will provide X and you give Y and it is not equal to or greater than X, is illegal. Even the screenshots on the back of the box are not from ANY version of the game. The game presented was not the game sold.[/quote]
All of those conditions you are quoting are not happening in the case of a disappointing video game. It's far too subjective. As far as the courts are concerned Gearbox created a functioning video game, and therefore not guilty of any false advertising; they delivered what they said they were going to deliver, a video game about aliens. Just because customers don't end up liking it doesn't mean that any false advertising happened.
The concept of the "Bullshot" has been with us in the video game community for years, the fact that publishers are getting more bold in how they use them is a shitty practice and one that should be punished by lack of sales, but I still maintain that it is not currently illegal, though I would be happy if this kind of sneaky marketing was made illegal.