Which means that, according to Apple, it's better than the CPUs in the other laptops it's competing against. That slow i7 is typical for thin+light 13" machines. I fail to see how this is a bad thing or even sneaky marketing.
When the name i7 is mentioned people are more likely to think it's one of the high end desktop processors rather than the mobile processors.
But then they throw in code compilation... that's where they stop being honest.