A 51 g serving might contain 40 g of the protein blend, making it a protein powder as the primary ingredient is protein blend.
However, this is plant-based protein, not pure way isolate. A plant-based protein powder from mung beans for example isn't going to be 100% protein. Chickpea powder contains roughly 20% protein.
So I don't know if that helps at all, but it doesn't seem as bad as you and you might be suggesting.