I don't think it is setting the bar too high, "far better than random" can still be abysmal.
You're right that humans are better than random, but there is a wide range of emotions. Assume for the sake of argument there are 10 emotions to identify and evenly distributed in frequency, then random is getting it right 10% of the time. Let's say humans get it right 30% of the time from still photographs of real-life situations (not staged) -- I'm making this specific number up but depending on the type of experiment, it's a reasonable ballpark one.
That's still horribly low, wrong more than half the time. I can't think of any situation where that could warrant any kind of responsible decision-making. If we were talking 95% accuracy then there could be value, I'm not asking for 99.99% accuracy. But if reliable detection is something like 30%, I stand by calling this "snake oil" even if it's not just random.