I agree: This is syrup, not molasses. Maybe they prepare it this way in Lebanon, but to me it's molasses only when you reduce pure juice. That's how you get the pure, untarnished, intense flavor. (The same goes for apple and other molasses.) Of course, the sugar they are adding here probably contributes to a longer lasting product. But you alter the ratio of the distinctive original flavor when you dilute it into the additives. It will still be good and taste of pomegranate, but won't stand a comparison quality test.
Looks great! I'm making this today. There's a bit of guess work as for how many lemons and pomegranates are needed. I see many applications with this. Thanks!