Their standard punishment is "don't show the advert again in this form", this isn't a scary prospect for Hello Games.
You're right, they have far bigger problems, I wonder if HG has a future given how tarnished their name is?
I feel sorry for Sean Murray, in hindsight he seems like a Walter Mitty character; big on dreams and when anything was suggested in an interview he let his imagination answer.
NMS on the other hand is just a badly designed game. Sure, there was hype and over commitment. However, the core game loop is so shallow it's borderline fraudulent.
The big take away for me, and while Sean Murray / NMS might be an extreme example... We view our babies very differently to our users / customers.
Maintaining an objective perspective through out a product's development is a challenge.
The trailers clearly say "captured in real-time" which leads the viewer to believe that is indeed the current state of the game (and games usually improve from their initial releases).
I have to believe that investigators have seen this vid: https://www.youtube.com/watch?v=RvAwB7ogkik
Here's the page with information for consumers: https://www.asa.org.uk/Consumers.aspx
Here's the page that talks about what ASA covers: https://www.asa.org.uk/Consumers/What-we-cover.aspx