[OP / Firebase founder here] We certainly aren't trying to be disingenuous with the 'serverless' title. The piece of code on GitHub allows you to build WebRTC functionality that doesn't require you to run a signaling sever. (or, any server if you want to go that far) Though, yes, we still run and maintain the Firebase servers to make this happen.
Sorry for any confusion. I'll add some explicit language in the README on GitHub.
Thanks for checking out the code.