For sheer lying, false advertising, and undeserved hype that I'm still prepared to be genuinely pissed about every day at the drop of a hat? MK11 Kitana vs. D'Vorah trailer. It used a ton of content for two characters who were irreversibly DESTROYED by the day 1 patch beyond recognition. I'd argue neither recovered from that patch for the entirety of MK11's lifespan, especially Kitana fan combos and... all of D'Vorah's kit.
Absolute trash and I cannot believe it was allowed to air when the balance patch was on the very soon horizon alongside release. Fucking unacceptable.
For the trailer in a vacuum on its own? Absolutely MK4. It's a fever dream where you cant really tell what's going on, and the live action stuff was cringey from the start (let alone by today's standards).