The iPhone has multitasked since day one.
That's just disingenuous.
Regardless, the Sprint ad doesn't even say "multitask". It says "run multiple applications at the same time". Can you do that on an iPhone? Unless you consider "init" to be an application, the only reasonable answer is "no".
But advertising is debatable
Just because you can do something doesn't mean you should. I mean, what are you trying to accomplish? There's some vague merit in being concerned about the future of the company in wanting to confirm continued support, but now you're just kvetching about trifling nonsense.
Wait. Are you a marketroid now? I'll bet you got an MBA, didn't you?