If the media claims turn out to be true nobody is going to think "Oh, Google was telling the truth the whole time!" As I mentioned, there is no practical difference between this statement being "true" in the sense that you creatively "read" it and an outright lie. No reasonable person would read these statements in the way that you have.
You seem to be having a really hard time simultaneously holding the idea that the media reports are correct and the idea that Google/the big tech industry is trustworthy, hence the mental gymnastics. You're going to have to drop one of those two ideas. You will eventually.
So implying something, while actually reporting something different is a lie, but it is a highly specific type of lie. And it is quite often quite interesting to do these mental gymnastics to uncover the sliver of truth in these statements.
However at this point Google is trying to prove a negative, that it does not knowingly participates in covert surveillance of its users. ( With the added complexity, that AdWords analytics should qualify as surveillance.) So Google will have a very hard time to convince me. However a published privacy policy, verified by a third party, would go quite a long way.
[1] http://www.google.com/transparencyreport/userdatarequests/?h...