Yes, unlike the devil, Molech is not a living being. Molech was invented, a fictional character in antiquity. Of course, people can and are often deceived about a great many things and for many reasons.
For example, you are deceived about Molech. You wrongly believe that Molech is a living being much like the ancient pagan Ammonites once did.
But the bible is clear that every "false god" is a useless invention that "profits nothing" as Habakkuk said:
"Woe to him who says to wood, 'Come to life!' Or to lifeless stone, 'Wake up!' Can it give guidance? It is covered with gold and silver; there is no breath in it."
Jeremiah put it like this:
"But where are your gods w
hich you made for yourself? [e.g. invented and formed] Let them arise, if they can save you in the time of your trouble..."
Sure, I stopped to think about the 2nd commandment while earning an M.Div.. Unlike you; however, I examined the 2nd commandment in context without assigning it meaning that it doesn't actually have as my bible professors directed me to do.
Furthermore, in systematic theology, we looked at the 2nd commandment in context with the rest of scripture. For example, consider the following passage in Isaiah 43 "
Before me no god was formed, nor shall there be any after me... I am the LORD and besides me there is no savior" (also see 40:28–31 and 44:6).
Isaiah, speaking for God, is referring to the origin of false gods themselves here and not the formation of their images. As the pulpit commentary states, God is revealing through His prophet Isaiah that all other gods beside Himself are invented, fashioned, and made by men.
You may borrow my bucket jaybird88, it holds water just fine.