The Prophet ﷺ related this report for two reasons.
First, so that we may beware of these blameworthy traits. They are signs of hypocrisy, and there is the fear that practical hypocrisy may, Allah’s refuge is sought, lead to doctrinal hypocrisy; a person could become a hypocrite in belief and slip out of Islam without realizing it. The Messenger ﷺ informed us of this so that we might take due caution.
Second, so that we may protect ourselves from anyone characterized by these traits, recognizing that such a person is a hypocrite who deceives us, toys with us, and entices us with sweet words and pleasant speech. We must not trust him or rely on him for anything, because he is a hypocrite—Allah protect us. The opposite conduct is a mark of faith: when the believer makes a promise, he keeps it; when he is entrusted, he discharges the trust fully; and when he speaks, he tells the truth, reporting matters exactly as they are.
It is regrettable that some foolish people among us, when given a promise, ask, “Is this an English promise or an Arab promise?”—suggesting that it is the English who honor their word. This is sheer folly and a deluded admiration of those unbelievers. There are indeed Muslims and believers among the English, but in general they are disbelievers, and their keeping of promises is not done for the sake of Allah; they merely wish to improve their image before others so that people will be taken in by them.
In reality, the believer is the one who fulfills a promise perfectly; whoever does so is a believer, and whoever breaks his promise carries within himself a trait of hypocrisy.
We ask Allah to protect us and you from both practical and doctrinal hypocrisy. He is indeed Most Generous, Bountiful.