Deception. Plain and simple.
That definition above is pretty clear. This packaging is not:
It's a play on words. And a downright contradiction of terms to the unwary.
This fryer is not "oil-less" if it claims to "use little to no oil."
Even more disturbing is the fact the Good Housekeeping label is attached to it. Part of the Good Housekeeping Institute's duties include "reviewing product effectiveness as well as packaging and marketing claims." Granted, it may be an approved product but it's got a suspect feel with that bon mot.
Kind of feels like it doesn't exactly hold water, huh?