No it doesn't put lives at risk. Everyone knows it's not actually full self driving. One of the following must be true:

1) Tesla FSD actually is L5 full self driving

2) Tesla FSD is just driver assist and everyone knows it

3) People are dying in Tesla crashes at a massive rate

I doubt that it's 1 and I know it's not 3 because this would have been noticed immediately by the agencies that track this sort of thing and would be a huge news story. So it has to be 2. Nobody is actually stupid enough to be fooled by the name.