You said that those things are theater until the day the product updates. We are beyond the day when that happened. So for it to be a fallacy you have to reject the context in which it was presented, which nobody but you is doing.
It's a SaaS world, baby. Product updates (can) happen everyday. I'm not sure what that proved.
Good catch, that was a misphrasing in my comment. I meant to say _Zoom's_ investments in security, not security investments in general.