Basically, yes. If you don’t have anything new to sell or if your product is exactly the same as all others we can find on the shelves, so I could say you’re fooling the viewers.
However, if you look at your product in a different way and you can find different peculiarities of its own, a single detail is enough for a good publicity to make it become recognized, sold, well known and, who knows, famous!
In this case, it will all depend on the agency, the marketing and how they will manage the campaign to convince the gullible public that your product is the best one among all others. It is extremely important how they will say it. What matters for you is to establish the brand so that in a very short future you can launch other products in the market that can be benefited by it.
On the other hand, advertising it as a common product with no unique “difference" is just a matter of choices. You have to choose different ways to spend your money to inform the viewers that your product exists. It´s like everyone trying to say nothing in a very charming and seductive way.
Advertising is the angle of engagement which target audiences are ducks waiting to be shot. The strong survive the weak die.
Viewers are lab rats being coerced into buying stuff they don’t want. Is that fair? Is that moral?