English–medium instruction (EMI) has become a highly contested topic in discussions on the language of instruction policies in the Global South, raising critical questions about whether it truly delivers on the promises made in policy rhetoric and public discourse. While EMI is often promoted as a pathway to social, educational, and economic success for all, its rapid expansion raises concerns about linguistic inequality, social stratification, and unequal educational access. Through a critical synthesis of recent EMI literature, this paper identifies some persistent misconceptions that underpin the promotion and expansion of EMI in the Global South. These include the presumed neutrality of English, the belief in its automatic pedagogical and economic benefits, and the assumption that EMI leads to equitable access and improved content learning. The paper highlights the ideological and material consequences of EMI, such as epistemic injustice, linguistic hierarchies and social reproduction. In doing so, it calls for a rethinking of EMI beyond instrumentalist and Anglocentric logics and urges the centering of linguistic diversity, multilingual pedagogies and critical policy orientations. The article concludes with implications for future EMI scholarship and practices, particularly in contexts marked by deep social, linguistic and educational inequalities.