No it is not misleading. The Tensor G3 is on 4nm advanced process node vs 5nm process node, it has a different core architecture with arm v9, it has 9 cores to spread out tasks better, it has ddr5x ram. So we should see a significant uptick in battery life vs the Tensor G2. Unfortunately, Google cheaped out on the storage and gave ufs 3.1 instead of the faster and more efficient ufs 4.0.
We will also have Android 14 installed and whatever optimizations to the software Google has added with the new Pixel. I am guessing about a 20% increase in battery life with a 20% increase in performance at the same time. The screen has LTPO down to 1hz vs the battery guzzling screen on the 7 Pro which will also lead to improvements in battery life and besides the processor and 5g modem the screen is the other big user of juice. So if both the processor and screen are more efficient it should even with the same battery size give better or longer battery life.
In real life the difference in coverage and data speeds is not as big as you are making it out to be. But I will admit that the Samsung modem is not as fast as Snapdragon but again in real world use it is not a huge difference. In a lab with perfect conditions the differences would be more appreciable in my personal opinion than in real life. The modem can also be updated by firmware updates to improve both coverage and data speeds but will probably never match snapdragon.
I mean I have used a Snapdragon 8 gen 2 and Tensor G2 in the exact same real world situations and I have never felt the Tensor G2 felt slow, didn't stream music, maps, etc with any problems even with a low signal. So I have noticed the SD 8 gen 2 might have better reception in some areas but it doesn't mean the Pixel is unusable. It might be slower in certain areas or circumstances but it has never created a problem for me. YMMV. I am not trying to mislead anyone.
I think most people know what they are getting into by purchasing a Pixel. There are advantages and disadvantages to the Pixel line. It is very mature but still needs a few more iterations until they get everything right, if they ever do. That being said the fact that Google will support this phone for 7 years is a pretty good indication they are confident the performance and overall package will last that amount of time and still be useable.