He said there were parts of the game in the completed version that weren't. That's not dreaming, that's lying. Straight up, he knew what he was saying.
All I've seen him talking about is all of the stuff "You'll be able to do..." which is exactly the kind of thing Molyneux was doing. The most memorable example for many is the acorn thing. For the original Fable, he said you'd be able to knock an acorn off of a tree, plant it and come back years later to see a tree. This turned out to be patently false (at least until Fable II, when there was a mission called "the Golden Acorn"). However, I'm certain that Molyneux was not trying to pull the wool over the gaming public's eyes and say blatantly false things to get people to buy his game, but that he fully intended the acorn thing to be something you could do before somewhere down the line, someone said, "Um, Peter..." and he discovered that it was either impossible to code or was told that with the deadline, you can either have this acorn thing or the character can have arms.
Everything I've seen from the No Man's Sky guy seems to be the same. He's overly enthusiastic about what he wants to do without thinking through about what's going to make it into the final release. Hell, he may still be hoping to add all of this stuff in future patches. Things are cut from game releases at the last minute because they're not quite as ready as the designers hoped they would be. Many designers and studios learn to not talk about all of this stuff for just this reason, but that hasn't happened here.
Even that quote about being blown away by the people meeting already shows that he's got nothing but enthusiasm for the game, but it blew up in his face. It could be he finally got the message that he needed to stop talking. Or, more likely, he needed to focus on patching the game like crazy. There have been three already and talk about more.
I'm not trying to say it's not disappointing or frustrating that the game isn't quite the promised land we were, er, promised. And I get that some folks are mad and need someone to blame. I'm just saying that I don't think the blame should be on Murray for "lying" because it doesn't seem to apply. And, as I mentioned earlier, if legal action gets taken (even if it fails, which is likely), it's going to put a clamp down on creativity. Not just on Murray, but other dreamers, too.
The guy who made the first video with the "Lying for 8 minutes" title, even says he regrets the title and that he shouldn't be vilified. Everything in that video I've seen and/or read before and it doesn't change anything. He's talking about what he's expecting/hoping to have in the game. He's promising the ideal that's in his head, without considering the consequences if it can't all be delivered.
Notice when he says, "At the moment, you can land on asteroids." That's one of the few times where you get an indication that he knows some stuff isn't going to make it into the launch build. I get the impression that, like with Molyneux, people were telling him to stop promising everything, but he can't help himself.
The second one has some nice legal gobbledygook and is well thought out. And, yes, it shows that a case could be built against Hello Games or Murray. But just because it can, doesn't mean it should, as I've mentioned.
He talks about the "Sim City Problem" which is very similar to the Molyneux situation. He talks about every sim supposed to have been calculated, but then the background system couldn't actually do that. He then says this mean the public had been lied to. That's a big leap. I haven't researched the Sim City thing, but I seem to remember that being an early statement, but that it became clear even before release that it wasn't going to be the case (I remember a similar thing with being able to go from Sim City to following your individual Sims in the Sims game or from Sim Earth to Sim City). To me, that makes it a clear case of designers having a plan and wanting to fulfill it, but realizing down the road that they won't be able to do it.
Murray and Molyneux (and Will Wright, to a degree) are selling the dream. And it's because they are excited about the idea of it. To me, when the guy in the video talks about how careful Murray is about being vague in his comments, it's because the suits had learned from Molyneux's blunders and had a sit down about what to say and what not to say (as the video implies). This essentially is putting a lid on his enthusiasm, creating the problem. On a larger scale, a lawsuit would do the same damage.
When the guy says he doesn't believe the excuse of an excited developer who didn't know better is a valid one, even for indies, well, that's another big leap into bias territory*. Molyneux also had suits telling him not to say these things, but he did it anyway. And it was clear with Molyneux, especially over time, that it was because he just couldn't help himself. His enthusiasm clearly outweighed the suit-driven shushing. I believe the same to be true with Murray.
In the end, neither of these videos show him to be lying, though the second at least puts the argument forth in a clear and researched manner. I just don't agree with it.
*Not to say that I'm not biased either, of course. And just to point out, I think the game is a beautiful mess, full of promise that hasn't been delivered. My bias has more to do with the creative side of game creation. I'm a creative myself, and I can't stand the idea of people killing that side of things. I do not believe Murray was a snake oil salesman, as the guy calls him, more like a guy who wanted to give people something to cure their ills that turned out to be snake oil (but maybe could still be a cure-all if he adds enough ingredients).