Well, the marketing hype is just that- the hype. Always discount it 98%, if not 120% [be it about india or any other place. It is not place-specific]. Indeed, the more they hype it, the worse it is [civilizational inferiority complex at play]. Rer-phrasing the proverb in the beginning of the post, the empty vessels make more noise, but ones filled with crap make the most.
I think you nailed it. Indians have shown tendencies that you describe above. Also, they sometimes to take excessive collective pride in the achievements of individual Indians who have excelled in other countries, notably the US. While there is nothing wrong with this in general, some Indians do it to such a ridiculous extent that one wonders whether this vicarious living through other fellow Indians is a national malady.