OHHH HELL NO!
I used to work as a a cashier and that phrase drove me bonkers.
Our company used to like to run things as "Buy one, get one 50% off"
When they got to me at the register, they expected both items to be 50% off. In actuality, you're buying one at full price in order to get the second one for 50% off, but you don't get BOTH at 50% off. Another way to look at it is that you're getting 25% both, but you have to buy two.
I used to just love to essentially shut my register down while I explained this to some moron.