Oooh who didn't have their morning Jodrell?
They are more honest than almost everyone, they tell you exactly what wavelength are their diodes they tell you the PAR readings, and they show you the spectrum. They tell you the wattage at the power point, 326 for the PAR700W and they tell you the wattage of the LEDs and the brand, Epiled and Bridgelux.
It's up to you to understand that the 700W refer to the 140 5W diodes that are used. No one drives their diodes at their rated wattage because the heat would make them fail too quickly.
Where exactly is the lie, what is important is how much electricity does it use and how much light does it produce and what is the spectrum. Give me a link to someone else's LED where they are not "lying"?
It's like when a hi fi shops tells you that their unit is 100W it's up to you to know that mean Peak and not RMS, but viparspectra are not being sly and slippery like Hardly Normal, giving the rating as the nominal wattage of the LED multiplied by how many their are is standard practice.
Watts is not and never has been a measurement of light output for horticultural LED, it's a measure of power, of joules/second.