YES! These big companies are preying upon uninformed consumers. Low fat, high fat, high protein, good fats, bad fats, low carb, long-lasting energy...you name it, they've advertised it.
Over here we have a cereal that is advertised as "high in protein for building muscle and carbo's for energy to last throughout the day!" (mind you, it has a GI of 66 and the protein comes from grains...good luck building muscle on that!). But it's not only restricted to the television, pick up the latest magazine, newspaper or even walk into the gym and see this crap everywhere you go.
I get very annoyed myself - it's no wonder that people complain when they don't get the results they were expecting. The whole reason why I set up Amino Z to hopefully provide some insight to those that are uninformed.