I was permanently banned from the Reddit sub without recourse for posting this despite not breaking any rules. I'm slowly making the migration over thanks to such encouragement.
Technically since honey is listed first it should be at least mostly honey, as in 51% or more. But it is probably mostly corn syrup and the phrasing is intended to discourage lawsuits that would lead to anyone checking the ratio.
Which is really bad since only needing to be 51% of the thing is a pretty low bar in the first place.
Assuming the label isn't inaccurate, there is at minimum equal parts of the honey and corn syrup. The list must be in descending order by weight. I'm not sure what the rule is for equal quantities; I'd assume alphabetical, but there may be no such requirement.