Yes, the ad would be misleading to non-collectors, but NO, I do not believe the seller is doing anything "wrong", at least not wrong enough to get him in hot water with eBay.

It is unpleasant to us as a group because we know hype and b.s. when we see it, but that is a result of our experiences. Its like some guy in a music store selling a Japenese made Fender Stratocaster copy and telling some regular soccer-mom "Hey, this is the guitar Jimi Hendris played!" We know it is salesman bunk, but if the mom dosen't know the difference, whose fault is that? Let the buyer beware.

This is why I love buying from club members and always ask questions before buying from others.