"Gauge" is a fairly vague term, usually used to differentiate stranded from solid wire. AWG is a more accurate specification and this specification is not listed for this product. It's probably fair to call it 16 gauge, but at least from my measurements it's probably 17AWG 64/35 CCA. I've noticed that others here have had similar results. I've seen someone claim their cross sectional area was half the stated cross sectional area from their measurements. I definitely didn't find that. I would say I got a good price. I've seen others complain that it's not 16 AWG as advertised. Except it isn't advertised as such. A normal gauge wire is probably at least 16 AWG. For example, 16 AWG wire strippers are undersized and will cut some strands. As for the rating/complaint that it's 19.5 AWG for resistance and weight, it looks like those reviewers forgot to consider the wire composition. "Aluminum has 61 percent the conductivity of copper but only 30 percent the weight of copper" (Anixter). It is Copper Aluminum (CCA), not pure copper. Although it looks like copper at first glance, upon just weighing it up, it's obviously an aluminum core.
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