Yeah, intentionally misleading consumers should always be at least somewhat illegal. Sure caveat emptor, but consumers having accurate information is implied and a cornerstone of a competitive market.
"Caveat Emptor" and "Do your own research" is not a basis for a functional society. Providing reading material is not a sufficient substitute for regulation in a country like the USA where 54% of adults read below a sixth-grade level. And letting marketing decide what counts as "accurate information" is just letting the fox guard the henhouse.
Counterpoint: 54% of adults read below a sixth-grade level because a society has been created to facilitate (and encourage) just that. Encouraging a population to rely on the thought processes of others is exactly what leads to over reliance on marketing.
> Providing reading material is not a sufficient substitute for regulation in a country like the USA where 54% of adults read below a sixth-grade level
This is obvious, but thank you for putting it so succinctly. One has to wonder how much support for "do your own research" is driven by people who want to remain proudly-in-denial about their own inabilities.
It's no surprise that the political party/forces pushing on policies that result in worse education and literacy outcomes are the same ones who want "Buyer Beware" and "Do your own research" to be fundamental product regulatory principles.
In the US at least, medicine is so highly regulated/gate-kept that I don't think caveat emptor really applies. What's happening here is more like deception of the public by the state, or by groups granted special status by the state. It's morally somewhere between fraud and treason.