I wouldn't say it is. Look at the Games or Mobile sections, and it says "Pay what you want" for the cheapest tier. At those tiers, you can pay $0.01 and have them make a loss to provide the content, if you're OK with doing that. It's very clear at the top of every section exactly how much you have to pay to unlock each tier of content.
The books don't have a $0.01 tier. When you look at the page, the first line of content that isn't a headline makes it clear that it's a $1 minimum. When you hover over the "Pay what you want" text, it clarifies that, on this page, it's "Name your price of $1 or more." When you attempt to pay less than $1, it displays a warning that you won't get any content if you pay less than $1. The fact that you're here moaning about it makes it clear that you understand that it's a $1 minimum. So where's the deception?
The question implies certain meanings not explicitly stated. As does the answer.
edit: hey buddy, thanks for voting me down. Why the hell should I answer you when it's all I get. I have nothing left to say to you other than you are unable to respect differing opinions.