Much ado about almost nothing. Apple will make the changes to its websites and marketing materials, and move on. For the vast majority of customers outside the US and Canada, lack of LTE is not that big a deal since their 3G HSPA+ networks are very good. It's still a boost from the iPad 2, as well.
Complaints like this occur all the time, and marketing materials are fixed. If it weren't Apple chances are it wouldn't be getting much press.
It's not the 4G moniker that they are in trouble with... it's that LTE is stamped on the box and described in the marketing materials. People that want LTE already know what it is... they're not reading the entire descriptor... they don't have too... and the disclaimer is still at the very end of that.
If you buy an iPad from your wireless company and it says LTE on the box, of course you would think you were buying a device that works on their LTE network.
I'm not wide eyed at the bad marketing move Apple did (because it's just stupidity on their marketing departments part)... my jaw is dropped that they shipped iPads with LTE chips that don't operate on local frequencies. Paid for the part, put it inside the device... why didn't they just order LTE chipsets with those frequencies and put those in the device?
I can see Steve Job's ghost haunting the team that did this. "You should hate yourselves for this and for embarrassing the company. I'm going to make all your devices run on edge for a year to teach you a lesson..." Seriously, I can't imagine Steve Jobs would have ever allowed a device to ship internationally with a useless LTE chip in it.