That's correct. They do show the Ubuntu build on the "About" section.

Yes, because elementary OS is not Ubuntu. In the past, we carried newer versions of GTK or other core libraries, so pretending to be Ubuntu would actually do more harm than good.

However, we have added an `--upstream` or `-u` flag to lsb_release like other Linux-based OSes to point to an upstream release if the downstream release is not supported. I believe this has been adopted for installers of tools like Ruby and Node.