That is true but HPL is using higher grade base oils in there formulations as well. With group IV and group V base oil you can get away with a lower HTHS because the base oil is a alot more shear stable.
Good possibility that HTHS for 5W-20 is correct. The closer together the two numbers are of a multi-grade oil, the greater the shear stability. So the 3.17 doesn't surprise me at all.