At my school, I had to correct so many students on what they were told by Admissions and what the reality is. Admissions NEVER once approached me (or my department colleagues to my knowledge) to learn the accuracies and current trends of the industry to know the proper things to tell prospective students.
Ethically, I treated it just like my adjunct colleagues at respectable state schools do: I have no contact with prospective students and thus can only tell them the brutal truths once they are in front of me. I went to one of the best art grad schools in the country and have struggled to find consistent work. If I'm struggling, you should NOT think you're going to coast through a career.