The problem is that it isn't one (a TV). Why would someone feel mortified if they accidentally drop a packaged bicycle from 2-3 feet (typical carrying height) when a fully assembled bike can be dropped from 2-3 feet, and this is packaged, so it should be even safer. On the other hand no one would feel free to drop a packaged LCD TV from even half a foot because people know it includes a giant pane of essentially glass, and they know that there are limits to what packaging can do.
So, yeah, by failing to meet expectations when it comes to packaging a bicycle, they can reduce damages by writing on it that it's a TV instead. All right.
But isn't this still them not meeting expectations exactly? If they write on it that it's a delicate stained-glass window, that would still be not meeting expectations. If the handler is the one with unreasonable expectations or behavior (if 2-3 feet isn't a reasonable drop height and should be considered a failure), then maybe educate the handler with some writing or warnings on the packaging.
isn't the real issue here that handler's expectations of bike packaging does not meet bike packaging's characteristics? so, you could tackle it head-one by writing care instructions.
alternatively, the article says only 70-80% reduction in damages was achieved. Maybe by lying and saying it is delicate stained-glass, handle with extreme care, they could up that to 95% reducted. I guess I've just saved them 15% of their former damages (even higher percentage of their remaining damages) with this one neat trick.