This is what has truly perplexed me. The information is generally presented to the public, through the media at least, that these are accurate and absolute figures. How could they know whether there is some medium between us and the stars distorting the readings we get. It is possible color shifts seen are the result of interference causing what appears to be a red shift to infact not be but just some diffusion like the blue we get in our atmosphere.
As I recall the light year distance system was changed years ago because it was determined that gravity can bend the trajectory of light. So presumably that star can be much larger and further off if there is some unseen and massive gravitational force between us and our view of the star.
I very much understand where you're coming from. A lot of science really does seem to be educated speculation, especially when it is dealing with information that cannot be directly observed, ie. observed over large distances and times. It doesn't mean that scientists don't have a good basis for their ideas, but that over time they are likely to change, sometimes dramatically.
That's not to put down the value of science, because we do learn new things with useful applications through its practice. However, it must be thoroughly vetted before we even begin to rely on it.
And I suppose we'll always have cases where an over-enthusiastic scientist will overstate what his research shows and the media will pick up on it and trumpet it far and wide without serious discussion of all the potential factors that might affect the interpretation. I guess my perspective is that I enjoy scientific reseach, but I feel that it should be viewed as research and not as 100% truth as seems to happen commonly enough.