It would NOT be a smart move for Delmarva because if WDEL migrates to 93.7 F.M., 1150 A.M. would never find another format which could produce the same sort of revenue.
Even with some ratings setbacks, WSTW as a music station and WDEL as a news/talk station still generate much more revenue combined than if news/talk went to F.M.
It's quite different for the radio conglomerates with multiple A.M. & F.M. frequencies in a single market. If you have a few F.M.'s - with one clearly under-performing - then sure, you might move your news/talk or news format to that under-performing F.M. Or you simulcast.
WDSD is the most successful station in the Wilmington--Dover Clear Channel cluster doing country. You'd blow that up for syndicated talk? That's still a tough sell in northern New Castle County, A.M. or F.M. Unless your ratings skyrocketed so high, you could get national agency buys. Unlikely. Plus, WDSD has signal problems in northern New Castle County.
As far as "deception"... welcome to radio imaging. Some critics once assailed Hawkins-owned WILM for calling itself "Newsradio" because it wasn't, strictly speaking, all-news. (No matter that in some markets, even music stations with the biggest news commitments have sometimes called themselves "newsradio".)
Agreed... some stations press the envelope further than others.