Maybe I need to clarify. Mac OS X is actually calculation 1 KB = 1000 B (not 1024) which is already the "cheaty way of calculating". It shows the full number (without any /1024 oder /1000) as 499,xxx,xxx,xxx,xxx BYTES!
So I can say: it is not the typical 1000/1024 issue which would normally lead to the case that you buy a 1 TB drive (1000,xxx,xxx,xxx,xxx Bytes, Windows calculates /1024 and says 930 GB).
What I dont understand is why it is actually less than the cheaty way of 512 GB, reported in the hardware tool which SHOULD include the space used by filesystem meta and recovery partition.
Apple clearly states...
1GB = 1 billion bytes and 1TB = 1 trillion bytes; actual formatted capacity less.
Do the math. Not to mention filesystem overhead, recovery partition, etc like has already been said.
Nobody is lying or cheating, you just have been living under a rock I guess.