Bad analogy. You're describing a case of false advertising (or at best a product defect), which should be remedied by either a product replacement or refund, or at worst a trip to small-claims court.
You haven't really given me a reason as to why false advertising is a bad analogy. I think this is quite similar to a case of false advertising or a product defect. Here the product is the service of Oculus developing VR technology for gaming applications. Contributors feel they were mislead and I am sure many of them would want a refund if it was offered.