In a way I agree.
However, many product advertisements on TV receive upheld complaints, and the protocol is to remove the ad in its present form, which Sit-Up have consistently done. So compliance is met.
The issue the ASA have is that due to to relentless pestering by a small number they feel their responses are not sufficient to conclude the situation, and so they feel the need to refer to Ofcom in order to confirm that they have delt with each minor infringement sufficiently.
You are incorrect, moreover you do not understand the process.
You seem to think that if a complaint is upheld for,say, one brand of watch they can then they can make similar claims for another brand with impunity on the basis that the actual product has changed and therefore compliance has been met.
The fact is that the company has consistently breached the BCAP code particularly with regard to the following clauses;
3.1 misleading advertising
3.9 substantiation
3.12 exaggeration
3.18 price
It is for the continuous and persistent flouting of these aspects of the code that the matter has been referred to Ofcom.
In view of this I don't consider that your intervention is either well informed or properly thought through.