I think flat out making up some bullshit would be worse, there could in theory be some point to it for someone who has gotten so deep into the miniscule details of electronics that they've lost sight of what actually matters or not. But I would probably rather have a pedal designed by someone like that than whatever someone who is just willing to lie to make money came up with.
...although I think depending on how strict your definitions are, the latter might apply to a surprisingly large chunk of the pedal world and/or capitalism in general.