I think it's excellent marketing - they're clearly targeting people who use the word "spreadsheet" to mean "lists that don't involve math" and it's always easier to keep speaking your target customer's language than to try to teach them a new one.

Words mean things. There's an external cost to society when marketers engage in deceptions that only work for the ignorant. It adds friction to the marketplace; each instance makes it a little bit harder for customers to find the goods and services they're after, and for legitimate vendors to be found.

It's also a missed opportunity to offer those people UIs that fit their tasks, rather than encourage them to continue poor use of the only tool they know.

Those people call "lists that don't involve math" an "Excel". They have never heard the term "spreadsheet".