Sorry that you felt 'cheated'!
The travel industry is becoming more and more confusing these days. While there may not have been a need to read the fine print before, it's especially important today. If it helps, I think Southwest is the best when it comes to not having their customers feel 'cheated' - out of many carriers from the US, Southwest is the most straightforward through their Transfarency policy and while the name 'Business Select' could be confusing, I'm sure when you were prompted to upgrade, the kiosk listed what you would be getting in return (ie upgraded boarding, drink coupon, 12 points/dollar, etc), not stating anything about seating.
Southwest's customer service is kind of swamped right now so I do not know if you would get a response, but I would recommend emailing them or tweeting them about your experience. While they may not be able to offer compensation, it's always good to reach out (like what you are doing on this forum) and let the company/other travelers know so that they can be informed.
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