It's wrong when you do it in a weaselly way.
The thing that most pissed me off was their "Firefox vs. Safari" comparison chart, where Firefox got points in things like "encourages developing standards" and a ton of things that AREN'T web browsing. Their marketing has NOTHING to do with how good the browser is, EVERYTHING to do with pure glam. Same with setting a world record. That did nothing to prove anything, nothing to counter the criticism that Firefox was getting for things.
And, not to get all fanboyish, but Firefox is an inferior product. Opera is slimmer and faster, and yet can do far more out-of-the-box. On the Mac, as alluded to before, Safari is a godsend. Firefox looks wrong, it's too cluttered, it doesn't support two-finger scrolling well or three-finger navigation at all. And the team almost certainly knows this. Yet they've ignored constantly the fact that they're making an inferior product and continue to market their product as the best there is. Which, at least on OS X, it's not.
I think the thing that I like most about Steve Jobs is when, in a marketing interview, he said, "Apple TV might not work. Other people have tried and failed. There's every chance this will fail too. In which case we'll improve again." Apple is famous for marketing, but it's famous for marketing in a more honest way: they don't lie about their product. Firefox and its developers do. That's what's wrong with their marketing.