If a company is going to lie or skirt the law about their cookie use, why show the banner at all? It's almost worse to show a decline option that does nothing.
Malicious compliance is still compliance. Somebody being told "Please watch the pressure gauge." and then staring at it as it goes outside of safe regions is doing exactly what they were asked to do. This is blatant noncompliance with the thinnest veneer of respectability.