No they're not. CO2 and NOx have different effects on the population and on our environment. And yes, one is worse than the other. No, CO2 isn't wonderful, but mole for mole, CO2 is strictly preferable to NOx.

Yes, we should strive to reduce both. But they're nowhere near equivalent.

EDIT: I do agree with you though, I also hope this cripples them financially. I don't want to see them dead, but the consequences from this cheating should be so enormous that the company has a collective nightmare about this for the next several decades.