I know there's no way you don't understand these simple facts, so yours "Wov, 550GHs!" makes me really offended. Do you really think you are dealing with idiots?
Judging by their actions: yes.
My conclusion so far is that they studied the BFL case and figured they can screw customers without repercussions. There's one little thing they overlooked though. The mining community has become much more powerful over the last year, shifting the balance between customers and companies. Stealing $1,000 from a thousand customers is something entirely different than stealing $100,000 from a hundred.
Their deceptive marketing is gonna create a huge backlash. Judging by their actions I am not convinced that they are aware of that. There are ways for them to fix these issues, but so far they have not been forthcoming.