Strict honesty here has always been a losing proposition. The "requirements" section of a job posting has almost never been accurate. It's more of an image they're painting. An honest applicant is one who reads the whole description to understand as best they can what the company is looking for, and sort of holistically matches their own expertise against that picture.
If the job posting lists requirements A-F and you have A, B, D, E, and F, then you'd do both yourself and the company a disservice by disqualifying yourself. Put it in your cover letter if you can't handle the discrepancy.
I'm not going to address either the morality or advisability of being "dishonest" by this standard. I've just seen too many people sell themselves short, when in fact they are exactly what the company is looking for, it's just that the recruiter wasn't able to spell that out in the job description. And it's not necessarily because they were stupid either; if they only put the true minimum necessary criteria into a job post, then (1) they'll get flooded with underqualified candidates who don't even come close to what they need, and (2) they may very well miss out on good candidates because the job looks lame.
Source: I've been on both ends. As a candidate, I mentioned during the interview that I actually had no experience in the required technology X but I had related experience. The interviewer just laughed; it was obvious to both of us that it didn't matter. As someone offering a job (not the hiring manager but sort of), I talked to a couple of people who were hired into other roles in the company and asked why they didn't apply for our position, they seemed perfect for it (to me). Several of them pointed to some specific line item under the requirements that disqualified them. Sometimes it was an item that we'd removed later because we weren't getting enough people in, even though strictly speaking it was part of the job. We would sometimes push the recruiter to add "experience with X, or willing to learn X", but they would push back and honestly I'm not sure I know better than them. They were the ones who had to be the front line filtering through the noise resumes, after all.