The disclosure is on the screen in tiny print for ~3 seconds with bad contrast right at the beginning before you know what is going on. It may not be false, but it is misleading and deceiving. That said, the ad itself also explains the situation with a text message asking if the person has upgraded from their iPhone6 yet. To me, working that into the ad is a much better disclosure than the mouse print.

As for the screen images simulated, I think some are confusing that phrase with ads that use a "sequences shortened" disclosure. As long as the images are accurately depicting what would be happening on the phone, I understanding using a digitized version of it to make sure it looks good. The sequences shortened disclaimer, however, usually means that ads speed up or skip steps to make something that is complicated or slow seem simple or fast (and thus is deceiving the public).