Obviously rebates are legitimate or the companies wouldn't use them. It has something to do with high priced legal beagles running amuck in the translation room.

It's the manner in which they are used which is deceptive. Why bother having them at all?

It's another way which major corporations benefit off consumer ignorance. For this reason, they will continue to be offered. As long as people don't complain loudly about it, the practice will remain.