There is a huge difference between an arrest and a conviction. That is not quibbling. How can you answer a question honestly if you don't read the exact wording. Sheesh.
For the record, the application asks about convictions, not arrests.
You can "sheesh" all you want, but if the posters record is up on the CBP officers screen at the interview, then being straight up honest, open kimono, is the only viable path and it won't matter how the the poster thought the question was worded on the application. This is not likely something that would cause the poster to not be approved, but dancing around it or parsing terms creates the sense that where there is smoke there is fire (in terms of honesty)
And to your final sentence, I'd make the case that when filling out an application for a trusted traveler program, sponsored by the U.S. Govt. and laced with statements and blinking lights forcing you to attest to the truth and accuracy of the application your are submitting, well, I'd make the case perhaps its in peoples interest to, you know, "read the exact wording"
Regards