This isn’t lying, it’s measuring something accurately but not measuring what you want it to measure. There isn’t a contract or regulation that they can’t prioritize certain traffic.

It does feel a bit deceptive, I grant. But to me, lying would be if they tricked speedtest into display 10mbit when only 2mbit of traffic was transferred.

Everyone games the tests. That’s why you can’t trust just about any performance test unless you run it for your workload.