If one pillow always costs the same as two pillows, then what is the point of boasting a two for one offer. You are just doubling the asking price and insulting the intelligence of your customers. People don't like being duped, even for a product they like. It will catch up to MyPillow and I predict they will lose some sleep.
People are not surprised when products like these are advertised on television. People know that there are always special deals and that the price isn't usually the real price. When a person goes to buy the product, they know that the price is really two pieces of product for a set price.
This is America. The point/advantage of the free market is that businesses have to compete to make money by providing consumers with the best quality products at the best prices. Whether or not the price of the single pillow reflects that of two pillows is irrelevant. The company prices the pillows, keeps the end of its BOGO deal/promise when you purchase a pillow, then at that point it is up to the customer to decide if the item is worth the price. The other side of the free market means that customers (as it should be) are tasked with the own accountability of their purchases.
If the year round BOGO offers are legitimate and not really giving you two items for the price of two then it shouldn't be considered false advertising. Most of those paid programs on television are a big scam but if they really are giving you two pillows for the price of one I really don't see the issue.