Thanks for the interesting perspective, but I just don't agree.
#1 Common sense would dictate that they should at least be able to report what they *are* doing or not doing. I don't believe the requirement is to report information that they don't already have and would require an expensive enterprise level system to obtain.
#2 This is kind of irrelevant. Most people would rather drive a car that can go 300 mph even though they'd realistically never use that. That doesn't mean Honda should be allowed to falsely advertise a 300mph Civic.
#3 You've provided a reason why an ISP might oversubscribe, but no reason why they shouldn't be able to report it.
#4 The "right" way is not to get rid of net neutrality. The 1% of users are still paying for what you're advertising. You should advertise to everyone what is and isn't available and treat your customers equally. Lunch buffets have been dealing with this kind of thing for a while without false advertising or "shaping" the food available to the over-eating 1%.