The FTC Rule of the early 70's was developed at a time when the audio component marketplace was simpler than today and suffered from some abusive marketing. It's important to note that the FTC Rule never applied to a lot of products that are common in our market today, and the rules still apply to the same components they ever did. It has never applied to boom boxes, car audio, TVs, any device that is designed to operate as a complete system (such as a product comprising of an amp and speakers together),anything "portable" which means not connected to AC or one that contains a "handle" somewhere ... the list goes on, actually.
It's also worth noting that the FTC Rule only applies to advertisements in print where certain power claims are made in the text. It does not prohibit other forms of power claim, only that they cannot be more prominent (text size, bolded, etc) than the FTC method figures. And to repeat, only to ads.
Not to webpages, not to downloadable brochures, not to owner's manuals, not to video, and not to non-advertising product literature of any kind. Since people no longer shop Bricks-And-Mortar stores they no longer encounter printed brochures. Back in the 70's and 80's a store would have hundreds of different take-home brochures on display.
And if you're not reading an ad in a printed magazine, or if that ad doesn't make certain power claims on certain component products, it doesn't apply either.
Most reputable manufacturers follow the FTC rule in composing their spec sheets.
The FTC attempted to expand the FTC rule to apply to multichannel components but yielded to industry pressure. The main argument against expansion was that buyers of multimedia gear would feel cheated when the new rules came into force and power claims fell at the same price point.
So it only applies to certain types of stereo and mono amplifiers, distributed from a US-based company, and only products sold by that company within the US, which doesn't come close to covering the entire market today.