Yes but this would require continuous real time analysis, probably too complex for a design that just sends power usage for each 30 minute period.
These variations will be very small compared to total usage by everything else in the house. I doubt if smart meters will have that sort of computing power. And likely to be unable to sort out what's happening if 2 TV's are in use in the house at the same time with people watching different channels.
And as to the claim "track when you toilet light goes on" - it's going to be a very smart meter to know the difference between the light in the toilet and any other light in the house.
That would probably depend the use of smart devices capable of talking to the meter.
Exactly. instantaneous values are pretty well useless for overall cost calculation purposes.