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It's still false advertising.

This is common in all industries. Take gaming, for example. Game publishers love this kind of publicity, as it creates hype, which leads to sales. There have been numerous examples of this over the years: Watch Dogs, No Man's Sky, Cyberpunk 2077, etc. There's a period of controversy once consumers realize they've been duped, the company releases some fake apology and promises or doubles down, but they still walk out of it richer, and ready to do it again next time.

It's absolutely insidious, and should be heavily fined and regulated.

You're right, it's astroturfing a placeholder in the market in the absence of product. The difference is probably just the target audience - feels like this one is more aimed at share-holders and internal politics.

possibly securities fraud though. Their stock popped a few percent on the back of that faked demo.