The one who is "essentially lying" is you, since Phil Schiller never said such a thing. What he said is that they decided to use LPDDR3 instead of DDR4 for the 2016 model due to battery life concerns.
afir93 post provides the correct quote.
The marginal increase of battery capacity alone is very unlikely to cancel out the increased power demands of DDR4 over LPDDR3 in low energy states.
My guess is that they managed to improve the energy efficiency of the entire system somehow, allowing them to use more power hungry RAM. Also, I suppose that they use some sort of particularly energy efficient DDR4 (one hint is the frequency, which is lower then other 2018 DDR4 laptops). Still, I wouldn't be surprised if the battery life under lightweight tasks will suffer a small dip. Hopefully teardowns and tests will tell us more.
Overall, the entire thing is obviously a marketing plot, to counteract the vocal minority who is claiming that Apple does not make "pro level laptops". From performance standpoint, the difference between DDR4 2400 and LPDDR3 2133 is negligible Overall, Apple wins — they get to sell you cheaper RAM at the same price point, the critics are silenced, and the few users who need 32GB can get it (for a quite ridiculous premium). All of it is probably enough to cover the costs of the R&D needed to move from LPDDR3 to DDR4.